A Legislative interim committee has been studying the oil impact formula – with an eye to making changes.
But that panel’s chairman says it may not happen now.
Until the 2015 Legislative session, North Dakota state coffers received 75 percent of the 5 percent oil production tax – and local governments received 25 percent. The Legislature changed it to a 70-30 split. And an interim committee was assigned the study of whether those percentages needed to change, sending more money to local governments.
Senate Majority Leader Rich Wardner (R-Dickinson) chairs the interim Energy Development and Transmission committee. He says the slowdown in the oil patch will probably affect those deliberations.
“As we take a look at this, and as we look at the budget forecast next summer, that will dictate what we want to chan ge in the formula," said Wardner. "And you know what? Maybe what we have now is what we have to be satisfied with, because there just isn't the dollars there.”
Wardner was one of a group of western North Dakota lawmakers that pushed for a 45-55 split – with the local governments getting the bigger piece of that pie.
