ND Oil Tax Fund Reaches $850 Million - Valley News Live - KVLY/KXJB - Fargo/Grand Forks

ND Oil Tax Fund Reaches $850 Million

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North Dakota's Oil Tax fund now has about $850 million in assets.

The legacy fund gets 30% of the state's oil tax collections.

None of the money can be spent until 2017, and even then it takes a two-thirds vote of the legislature to dip into it.

North Dakota Treasurer Kelly Schmidt says $57.8 million has been deposited into the fund this month.

It's been collecting oil tax revenue since September of 2011.

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