N.D. bill would send more oil revenue to towns wrestling with growth
North Dakota’s Senate approved a bill restyling a formula designed to distribute a portion of the state’s revenue from taxes levied on crude oil production to boom towns struggling with growth from energy production.
Currently, 75 percent of the funds go toward state government with 25 percent set aside for local governments. Now with the revamped formula, local governments could see 30 percent of those funds to ease their growing pains pending amendments on the bill.
A House-Senate committee will now work to write a version to satisfy both chambers (AP/Fuel Fix, April 7). — KS