Governor Vetoes Legacy Fund Budget Backstop Bill

(Bismarck, ND) — Governor Doug Burgum is rejecting an eleventh-hour proposal to use the state’s oil tax savings fund as a backstop. The Republican governor nixed the Office of Management and Budget’s bill that would use 70-million of the eight-point-eight billion dollar Legacy Fund for immediate budget purposes. The governor said it makes more sense to leave the money where it is to garner more investment return than to cushion North Dakota’s budget.

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