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What is North Dakota Legacy Fund mean?
The North Dakota Legacy fund is a sovereign wealth fund. Contributions to the fund are calculated from a thirty percent tax on oil extraction and production. The fund was established by ballot initiative in 2010. The fund is modeled after the Norwegian Sovereign Wealth Fund. As of November 2020, the fund has a principal balance of $6.252 billion. The fund is projected to have assets worth approximately $90 billion by 2039, $150 billion by 2050, and $250 billion by 2060. The fund intends to diversify wealth obtained from oil extraction into other sectors. Money in the fund could not be spent by the state legislature until 2017.
reference| Full Form | Category |
|---|---|
| National Dual Language Forum | Academic & Science |
| North Dakota Legacy Fund | Business |
| Nusa Dua Light Festival | Community |
| National Digital Learning Forum | Community |
| Niger Delta Liberation Front | General |
| Niger Delta Liberation Force | General |
| New Democratic Labour Front | Governmental |
Posted on 07 Dec 2024, this text provides information on Miscellaneous in Business related to Business. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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