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+++ artx:sec24 [Unknown date] (current) – removed - external edit (Unknown date) 127.0.0.1
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-Section 24.
-. Ten percent of the revenue from oil extraction taxes from taxable oil
-produced in this state must be deposited in the common schools trust
-fund.
-. Ten percent of the revenue from oil extraction taxes from taxable oil
-produced in this state must be deposited in the foundation aid
-stabilization fund in the state treasury, the interest of which must be
-transferred to the state general fund on July first of each year.
-a. Except as otherwise provided, the principal of the foundation aid
-stabilization fund may be expended upon order of the governor, who may
-direct such a transfer only to offset reductions in state aid to school
-districts, which were made by executive action, pursuant to law, due to
-a revenue shortage.
-b. Whenever the principal balance of the foundation aid stabilization
-fund exceeds fifteen percent of the general fund appropriation for state
-aid to school districts. for the most recently completed biennium. as
-determined by the office of management and budget, the legislative
-assembly may appropriate or transfer any excess principal balance. Such
-amount may be used for education-related purposes, as provided by law.
-[Amended Nov. 8, 2016 ([[https://www.legis.nd.gov/assembly/65-2017/session-laws/documents/caa.pdf#page=2|S.L. 2017, ch. 457]])]