The chairman of the Senate Finance and Taxation Committee is still hoping for an interim study to look at potential uses for the proceeds from the Legacy Fund.
This – after a House-Senate conference committee decided to return House Concurrent Resolution 3055 back to its original version – which was a proposed Constitutional amendment to reinvest the proceeds into the Legacy Fund. The proceeds now will go into the state’s general fund. The Senate changed it to a study. But the House wouldn’t agree.
Sen. Dwight Cook (R-Mandan) chairs the Senate Finance and Taxation Committee. He said he still believes a study is warranted.
"My fear is if we just lock this up, and don't try to find ways that will benefit the state, the citizens are going to come with an initiated measure," Cook said. "There could be a big difference between something that will benefit the state and something that will benefit an individual."
Cook said one idea that has been tossed around is to use that for state highways.
"It would eliminate the need to raise gas taxes," Cook said. "It will eliminate the need for special assessments. That's something that will benefit everybody."
Cook said something like that would make North Dakota the "envy of the nation."
"We can do this, and the other states can't," Cook said.
