'Legacy Fund' Bill gaining support among localities
BISMARCK, N.D. (KFYR) - Some bills in the legislature don’t make it out of the first chamber with much support, if any. But a bill using Legacy Fund dollars for local infrastructure projects is becoming the favorite option for cities and counties.
At the beginning of Session, there were three Legacy spending packages introduced, and the only one that’s survived is the smallest of the three.
Over time, it’s gotten smaller.
After it passed the House, there were talks about it possibly increasing in the Senate.
During a committee hearing, there were no changes made that would increase the size of the bill.
However, localities are still excited for its potential impact.
“This is not a pension fund where you get the best return possible and you don’t care about anything else. This is a little bit different… But the state will benefit with more jobs, GDP and sales tax. So it comes back around in a different way,” Rep. Mike Nathe, R-Bismarck, said.
The bill will focus on funding water projects along the Red River Valley, as well as open applications for low-interest loans for local infrastructure projects.
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