North Dakota Legacy Fund

United States – North Dakota US$ 2.4 Billion Origin: Oil & Gas

Profile Directories

Sovereign Wealth Funds

Public Funds

Established: 2011
Transparency Rating: 6
View Sovereign Fund Transaction Data
Related Articles
Firm Investment Style: N/A
Entity Structure: Fund
Pop Est.: 699,628 – 2013 North Dakota
Wealth Per Capita Est.: $3,430

Fund Details

Strategy & Objectives

SWF Asset Allocation

Key Executives and People


Main Office

ND Retirement and Investment Office
1930 Burnt Boat Drive
P.O. Box 7100
Bismarck, ND 58507-7100
United States
Tel: 701-328-9885
Fax: 701-328-9897

Governance

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Summary

The North Dakota Legacy Fund is funded by oil tax revenue.

The principal and earnings of the legacy fund may not be expended until after June 30, 2017, and an expenditure of principal after that date requires a vote of at least two-thirds of the members elected to each house of the legislative assembly. Not more than fifteen percent of the principal of the legacy fund may be expended during a biennium.

Background on North Dakota Legacy Fund

The voters of the state of North Dakota (United States) approved a constitutional amendment to create the permanent fund. It will receive 30% of the state’s taxes on oil and gas production and extraction. It will be then transferred to a special fund in the state treasury.