Plain Talk: Former Treasurer Opposes Legislative Proposal to Invest Legacy Fund in North Dakota


“This bill changes the legal guidelines.”

That’s what former North Dakota Treasurer¬†Kelly Schmidt¬†had to say of a proposal, currently before the Legislature in Bismarck, which would invest 20 percent of the billions in the state’s Legacy Fund in North Dakota businesses and infrastructure.

Private entrepreneurs could access that capital to start up or expand their businesses. Local communities could also access the money to finance infrastructure projects cheaper and quicker than they are at present. The Legacy Fund is already invested in these sorts of things, just not in North Dakota.

Currently, less than 2% of the Legacy Fund is invested in North Dakota.

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