The state of North Dakota is forecasted to have a $1.6 billion dollar surplus at the end of the biennium, which is June 30th, 2013.
Now the question: what do you do with the money?
"I'm already getting more requests than I imagined from people that want things," said House Majority Leader Al Carlson (R-Fargo). Carlson says he has some ideas for how the money should be used. One is tax relief.
"We listened to what the people said on Measure Two (the measure to eliminate property taxes, which voters defeated)," said Carlson. "Property tax is still a concern. And I think personal and corporate income tax should be adjusted. We need to take a close look at our tax structure, and see if we're extracting too much from our citizens."
Carlson also says money will need to be spent on infrastructure needs – not only in the oil patch, but across North Dakota.
Senate Majority Leader Rich Wardner (R-Dickinson) says while it’s nice to have a healthy budget surplus, there are a lot of unmet needs for that money.
"We have to make sure we take care of our state employees, education and things of that nature," said Wardner. "But we can't overdo it -- because if there comes a time when all of a sudden, this revenue stream is cut off, then we're really in trouble."
Wardner says he thinks money will be spent on one-time issues, such as roads and bridges, as well as water projects.
"I know that out in my area, people say, 'Isn't the Southwest Water Project done yet?' Well, not with the influx of energy," said Wardner. "The pipes are too small. And now they have to go back in and lay new pipe that carries more water."
Wardner says add to that the demand from the Western Area Water Supply project, as well as the Northwest Area Water Supply project -- and flood control projects in Fargo, Minot and Devils Lake. He and Carlson say it will be a matter of setting priorities.
