The state Senate has rejected a bill to set up a “Legacy Foundation.”
That group would have looked at potential uses for the Legacy Fund – which was set up by voters to save some oil tax collections for future use. Interest on the fund can be accessed starting in 2017.
"When I talk to people, the two things I get asked about are property taxes and the Legacy fund -- often in the same sentence," said Sen. Kelly Armstrong (R-Dickinson). "The Legacy fund triggers heartstrings and interest, as much as property taxes."
The vote was 29 to 16 against. The Senate has decided that the Legislature should study the fund and potential priorities over the next two years.