The legacy earnings fund; to provide a statement of legislative intent; to provide an appropriation; and to provide an expiration date.
Impact
The passage of SB2151 will have a direct impact on the state's transportation infrastructure by ensuring that counties have access to funds for necessary bridge maintenance and upgrades. The appropriation of $80 million for grants to eligible counties for bridge repairs indicates a prioritization of infrastructure funding. The implementation of a systematic allocation based on counties' needs—as determined by recent reports from the state's transportation institute—aims to create a fair distribution of resources that targets areas with the most critical repair requirements.
Summary
Senate Bill 2151 establishes a financial framework for enhancing bridge infrastructure across North Dakota while providing tax relief measures. The bill creates the County and Township Bridge Fund, which will allocate state funds specifically for the repair and replacement of county and township bridges. Additionally, it enacts a Legacy Earnings Tax Relief Fund designed to support tax relief initiatives, funded by earnings from the state's legacy fund. The intention of the bill is to streamline financial support for local governments in addressing critical infrastructure needs while simultaneously offering financial relief measures tied to the legacy earnings.
Contention
Notably, the bill outlines a comprehensive approach to funding that draws from the legacy earnings fund, a strategy that underscores the importance of sustainable financial planning. Concerns may arise regarding the long-term effects of appropriating funds from the legacy earnings for these purposes, as the bill sets an expiration date after June 30, 2035, which may require future legislative action to extend these funding mechanisms. Critics may argue about the adequacy of the proposed appropriations and whether they will suffice to meet the growing needs of bridge infrastructure in the state.
Determination of state school aid, information displayed on property tax statements, transfer of legacy fund earnings, and deposit of oil and gas tax revenues; and to provide an effective date.
The flexible transportation fund, motor vehicle excise tax allocations, an appropriation for township roadway funding, and the appropriation of bond proceeds for transportation projects; to provide an exemption; to provide a report; to provide for a legislative management study; to provide an effective date; and to declare an emergency.
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.
An allocation from the legacy earnings fund and eligible projects under the housing incentive fund; to provide an effective date; and to declare an emergency.
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.
Budget section approval limits for the flexible transportation fund; to provide for a legislative management study; to provide for a legislative management report; to provide for retroactive application; and to provide an effective date.
The flexible transportation fund, motor vehicle excise tax allocations, an appropriation for township roadway funding, and the appropriation of bond proceeds for transportation projects; to provide an exemption; to provide a report; to provide for a legislative management study; to provide an effective date; and to declare an emergency.
Appropriations: department of natural resources; Michigan natural resources trust fund; provide appropriations for fiscal year 2023-2024. Creates appropriation act.
State management: funds; revenue sharing trust fund; create. Amends title & sec. 2 of 2000 PA 489 (MCL 12.252) & adds secs. 11a and 11b. TIE BAR WITH: HB 4312'25
Legacy fund definitions, a legacy earnings fund, the legacy earnings highway distribution fund, and legacy earnings township highway aid fund; to provide for a legislative management report; to provide for application; to provide an effective date; and to provide an exemption.
Appropriates $17,288,315 from constitutionally dedicated CBT revenues to NJ Historic Trust for grants for certain historic preservation projects and associated administrative expenses.