BISMARCK, N.D. (North Dakota News Cooperative) — Most North Dakotans support using the state’s Legacy Fund to reduce property taxes even further and to pay for school lunches at public schools, but draw the line at using the sovereign wealth fund to cover private school vouchers, North Dakota Poll data shows. Of those three, state legislators have only tapped into…
Sen. Jerry Klein, R-Fessenden, testifies against a bill that sought to authorize the State Investment Board to divest the Legacy Fund from Chinese investments. (Jeff Beach / North Dakota Monitor)BISMARCK, N.D. (North Dakota Monitor) — The North Dakota Senate on Tuesday sank a bill that would have authorized the State Investment Board to divest from Legacy Fund holdings in companies…
BISMARCK, N.D. (North Dakota Monitor) — North Dakota’s Legacy Fund lost about $1 billion in value last week as the stock market plunged, but the investments are managed to weather volatility, according to testimony from a legislative hearing this week. Jodi Smith, interim executive director of the Retirement and Investment Office, commented on the impact of the stock market fluctuations…
Rep. Bernie Satrom, R-Jamestown, speaks on the House floor on March 25, 2025. (Michael Achterling/North Dakota Monitor)BISMARCK, N.D. (North Dakota Monitor) — The state may soon start development on a new website detailing its Legacy Fund holdings after the North Dakota Senate last week unanimously passed an investment transparency bill. The Legacy Fund, worth more than $12 billion as of…
BISMARCK, N.D. (KVRR) — North Dakota lawmakers are considering a bill that would divest money from the Legacy Fund away from Chinese-owned businesses. If passed, the bill would also initiate a review of all Legacy Fund investments to determine which direct holdings include securities of any Chinese companies. Indirect investments in Chinese-owned companies, such as through a mutual fund, would…
Jan Murtha, executive director for the North Dakota Retirement and Investment Office, speaks during a meeting of the Employee Benefits Programs Committee on Oct. 31, 2024. (Michael Achterling/North Dakota Monitor)BISMARCK, N.D. (North Dakota Monitor) — A key person involved with overseeing the Legacy Fund announced her resignation Friday. Jan Murtha, executive director of the state Retirement and Investment Office, announced…
Rep. Keith Kempenich and Treasurer Thomas Beadle listen during a Legacy and Budget Stabilization Fund Advisory Board meeting on Nov. 12, 2024. (Mary Steurer/North Dakota Monitor)BISMARCK, N.D. (North Dakota Monitor) — North Dakota has a chance to make more money off its investments after voters narrowly approved a ballot measure last week that limits spending of the state’s largest trust…
A voter fills out a ballot at the Hillside Aquatic Complex in Bismarck on Election Day, Nov. 5, 2024. (Michael Achterling/North Dakota Monitor)BISMARCK, N.D. (North Dakota Monitor) North Dakota voters narrowly approved a measure Tuesday that will further limit the amount of the Legacy Fund available for legislators to spend. About 52% of voters supported Measure 3 in complete but…
From left, state Reps. Bernie Satrom and Mitch Ostlie and state Sen. Cole Conley, all Republicans of Jamestown. (Photos provided by the Legislative Assembly)BISMARCK, N.D. (Mary Steurer – North Dakota Monitor) Three Republican lawmakers from District 12 plan to bring legislation during the 2025 legislation session to require the state to publish all investments of Legacy Fund money online. The…
Measure 3 on the Nov. 5 ballot would change how much of the Legacy Fund principal can be spent by the Legislature. (Kyle Martin/For the North Dakota Monitor)(Mary Steurer- North Dakota Monitor) A measure that would limit spending of the state’s biggest trust fund in order to increase its investment earnings will go to a public vote this November. The…
