North Dakota Constitution

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Section 26. 

1. Thirty  percent  of  total  revenue  derived  from  taxes  on  oil  and  gas  production  or 
extraction must be transferred by the state treasurer to a special fund in the state 
treasury known as the legacy fund. The legislative assembly may transfer funds from 
any source into the legacy fund. Transfers under this subsection and earnings accruing 
prior to July 1, 2017, are the principal of the 
legacy fund.

2. The  principal  of  the  legacy  fund  may be  expended, but an 
expenditure of principal requires a vote of at 
least two-thirds of the members elected to each house of the legislative assembly. 
Not more than five percent of the principal of the legacy fund may be expended 
during a biennium.

3. Statutory programs,  in  existence as a result  of  legislation enacted through 2009, 
providing for impact grants, direct revenue allocations to political subdivisions, and 
deposits in the oil  and gas research fund must remain in effect but the legislative 
assembly may adjust statutory allocations for those purposes.

4. The state investment board shall invest the moneys in the legacy fund. 

5. On July first of each odd-numbered year, the state treasurer shall make a distribution from the legacy fund to a legacy earnings fund as provided by law, 
but a distribution may not result in an expenditure of principal.

[Adopted Nov. 2, 2010, and amended Nov. 5, 2024]