Wardner: Reinvest into Legacy Fund, but meet needs, too
Gov. Doug Burgum’s call for 50 percent of the proceeds of the state’s Legacy Fund to be reinvested back into the fund is sparking a lot of discussion among state Legislators.
"There will be no question that we will be reinvesting some of the Legacy earnings," said Sen. Majority Leader Rich Wardner (R-Dickinson). "But what that percent will be, I don't know."
Wardner said other lawmakers have suggested as high as a 75 percent reinvestment.
"I've been scratching around, and penciling," Wardner said. "I'm kind of around the 40 percent mark."
But Wardner said it's still negotiable. He said he's hesitating because there are still some spending needs.
"Roads, infrastructure, water, behavioral health issues are things we need to deal with," Wardner said. "And we do have to invest in research and development, if we're going to continue to grow."
In the 2019 Legislative Session, a proposal to reinvest all of the proceeds back into the fund failed.