Gov. Doug Burgum Signs Legacy Fund Investment Bill

BISMARCK, N.D. — Gov. Doug Burgum is signing a bill that’s aimed at creating a broader investment policy for the state’s voter-approved oil tax savings account.

The bill sets targets for investing a greater portion of the Legacy Fund principal in North Dakota.

It requires that the State Investment Board give preference to qualified investment firms with a presence in the state.

The legislation sets targets for 10% of the Legacy Fund principal to be invested in equity investments in the state and 10% in fixed income investments within the state.