North Dakota § 54-44-16 Oil and gas tax revenue put options

North Dakota Statutes

§ 54-44-16 — Oil and gas tax revenue put options

North Dakota § 54-44-16

Title 54State Government

Ch. 54-44Office of Management and Budget

This text of North Dakota § 54-44-16 (Oil and gas tax revenue put options) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 54-44-16 (2026).

Text

Upon request of the director of the office of management and budget and upon approval by
the industrial commission, the state investment board may purchase oil put options for the office
of management and budget. The purchase of put options must be designed to offset reduced
state general fund oil and gas tax revenues due to oil and gas prices falling below selected
levels. Put options may be purchased only at such times that the purchase assures that oil tax
revenues plus the revenues from the sale of put options will be in excess of the oil tax revenues
estimated for that level of production by the most recently adjourned legislative assembly. The
office of management and budget shall report any purchases of put options to the budget
section of the legislative management.

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Upon request of the director of the office of management and budget and upon approval by
the industrial commission, the state investment board may purchase oil put options for the office
of management and budget. The purchase of put options must be designed to offset reduced
state general fund oil and gas tax revenues due to oil and gas prices falling below selected
levels. Put options may be purchased only at such times that the purchase assures that oil tax
revenues plus the revenues from the sale of put options will be in excess of the oil tax revenues
estimated for that level of production by the most recently adjourned legislative assembly. The
office of management and budget shall report any purchases of put options to the budget
section of the legislative management.