ND
North Dakota House Bill HB1399

North Dakota 2023-2024 Regular Session

North Dakota House Bill HB1399

Introduced
1/16/23  
Refer
1/16/23  

Caption

Oil and gas tax revenue hedging; to provide an appropriation; to provide a continuing appropriation; to provide for a transfer; to provide a statement of legislative intent; and to declare an emergency.

Impact

Should HB1399 pass, it can significantly affect the state's budgeting process and fiscal management regarding oil and gas tax revenues. The continuing appropriation within the bill would allow for smooth funding without the need for annual legislative approvals, thereby streamlining financial operations. This stability might encourage more investments in energy initiatives and support state-funded programs reliant on oil and gas revenues, fostering a more predictable fiscal environment. However, the focus on hedging may also lead to discussions about the risks associated with dependence on fluctuating oil prices.

Summary

House Bill 1399 addresses the management of oil and gas tax revenues by providing mechanisms for hedging these revenues. The bill proposes various appropriations and includes a continuing appropriation clause to ensure ongoing funding related to its provisions. The legislative intent is to create stability in revenue generation from oil and gas, which is a critical aspect of the state's economy. Through these measures, the bill aims to help mitigate the financial impacts that can arise from the volatility of oil and gas markets.

Contention

There are elements of contention surrounding HB1399, particularly regarding the adequacy of the proposed measures to truly protect the state's interests in volatile markets. Some stakeholders may argue that while the provisions for hedging are essential, additional safeguards against market downturns should be considered. Critics may also express concerns about whether the bill sufficiently addresses long-term sustainability or diversify the state's revenue streams beyond oil and gas to hedge against economic fluctuations.

Latest HB1399 Activity

Companion Bills

No companion bills found.

Previously Filed As

ND SB2016

AN ACT to provide an appropriation for defraying the expenses of the office of the adjutant general; to provide an exemption; to provide a statement of legislative intent; to provide for a legislative management study; to provide for a transfer; and to declare an emergency.

ND HB1014

Fuel production facility loan guarantee reserve funding, the housing incentive fund, the powers of the North Dakota pipeline authority, definitions for the clean sustainable energy authority, a clean sustainable energy authority line of credit, and an appropriation from the state fiscal recovery fund; to provide a contingent appropriation; to provide for a transfer; to provide an exemption; to provide for a study; to provide for a report; to provide a statement of legislative intent; to provide an effective date; and to declare an emergency.

ND SB2012

The autism voucher; to provide a statement of legislative intent; to provide for a legislative management study; to provide for a report; to provide an effective date; and to declare an emergency.

ND HB1362

A housing development loan fund; to provide an appropriation; to provide a continuing appropriation; to provide for a transfer; to provide an expiration date; and to declare an emergency.

ND HB1016

AN ACT to provide an appropriation for defraying the expenses of the office of the adjutant general; to provide a statement of legislative intent; to provide an exemption; and to declare an emergency.

ND SB2014

A transfer from the strategic investment and improvements fund to the clean sustainable energy fund; to provide a deficiency appropriation; to provide for a transfer; to provide an exemption; to provide for a legislative management study; to provide for a legislative management report; to provide for a report; to provide an effective date; and to declare an emergency.

ND HB1369

A fertilizer development fund; to provide for a legislative management report; to provide a continuing appropriation; and to provide for a transfer.

ND HB1199

The criminal justice data information sharing system; to provide for a legislative management report; to provide an appropriation; to provide a continuing appropriation; to provide for a transfer; to provide an expiration date; and to declare an emergency.

ND SB2001

Use of legislative rooms and halls and legislative compensation; to provide a statement of legislative intent; to provide for a report; to provide an exemption; and to provide for application, transfer, and cancellation of unexpended appropriations.

ND HB1147

The legacy earnings fund; to provide a statement of legislative intent; to provide an appropriation; and to provide an expiration date.

Similar Bills

No similar bills found.