In his first public bill signing of the session, Gov. Doug Burgum endorsed bipartisan legislation investing Legacy Fund money into infrastructure projects in the state.
It’s one of three bills that legislative leadership sponsored to put to use dollars from the state’s oil and gas tax revenue fund. The bill takes roughly $1.4 billion to spend on flood control and road and bridge infrastructure, among other projects, with a preference for North Dakota-based investment firms.
Burgum and lawmakers who sponsored the bill spoke about its importance in the state.
“We’re in the business in North Dakota to reach our full potential, as we’ve got to attract talent and capital in North Dakota. This is a great step forward. I would challenge the legislators to not stop here with this bill,” Burgum said.
The bill passed both the House and Senate overwhelmingly. It will take effect Aug. 1.