AN ACT to amend and reenact section 57-51.1-07.9 of the North Dakota Century Code, relating to revenue deposited in the state energy research center fund; to provide for a continuing appropriation; and to provide an expiration date.
Impact
The bill is poised to have a significant impact on the funding mechanisms for energy research initiatives in North Dakota. By establishing a consistent source of funding from oil and gas revenues, it can ensure that the state energy research center has the necessary financial resources for ongoing projects and research. This could enhance the state's capabilities in energy research and development, aligned with North Dakota’s interests in energy production and sustainability.
Summary
Senate Bill 2143 aims to amend Section 57-51.1-07.9 of the North Dakota Century Code concerning the state energy research center fund. This bill mandates that before the revenues from oil and gas gross production tax and oil extraction tax are deposited under section 57-51.1-07.5, one percent of these taxes must be redirected to the state energy research center fund, with a cap of seven million five hundred thousand dollars per biennium. Moreover, it establishes a continuing appropriation provision for these funds, indicating that the amount deposited will remain allocated to the fund indefinitely until otherwise specified.
Sentiment
The discussions around SB 2143 reflect largely positive sentiment, particularly among legislators who support energy sustainability and innovation within the state. Proponents argue it represents a forward-thinking approach to ensuring consistent funding for energy research. However, potential concerns could arise from the impact on budget allocations, especially if oil and gas revenues fluctuate, which could lead to debates on financial prioritization within the state’s budget.
Contention
Notable contentions surrounding SB 2143 may center on the reliability of funding and its sustainability in the context of changing oil and gas market conditions. Critics might express concerns about over-reliance on these revenues for essential funding needs. Additionally, while there appears to be broad legislative support, the long-term implications of this funding model could be debated, particularly regarding how it aligns with broader energy policy objectives and the impact it may have on other state funding initiatives.
AN ACT to amend and reenact section 57-51.1-07.9 of the North Dakota Century Code, relating to revenue deposited in the state energy research center fund; to provide for a continuing appropriation; and to provide an expiration date.
AN ACT to create and enact a new section to chapter 57-39.2 of the North Dakota Century Code, relating to an animal agriculture facility infrastructure fund; to amend and reenact subsection 9 of section 11-23-02 and section 57-39.2-26 of the North Dakota Century Code, relating to county budget limits and the allocation of sales tax revenue; to provide a continuing appropriation; and to provide an expiration date.
AN ACT to amend and reenact section 15-11-40 of the North Dakota Century Code, relating to projects the state energy research center is permitted to pursue.
Oil and gas gross production tax allocations and the state share of oil and gas tax allocations; to provide for a legislative management report; to provide an exemption; and to provide an effective date.
AN ACT to amend and reenact sections 57-51-15 and 57-51.1-07.5 of the North Dakota Century Code, relating to oil and gas gross production tax allocations and the state share of oil and gas tax allocations; to provide for a legislative management report; to provide an exemption; and to provide an effective date.
A BILL for an Act to amend and reenact section 23.1-13-16 of the North Dakota Century Code, relating to inspection fees; and to provide an expiration date.