North Dakota § 57-51.1-08 Intent

North Dakota Statutes

§ 57-51.1-08 — Intent

North Dakota § 57-51.1-08

Title 57Taxation

Ch. 57-51.1Oil Extraction Tax

This text of North Dakota § 57-51.1-08 (Intent) 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 § 57-51.1-08 (2026).

Text

It is the intent of the electors of the state of North Dakota and the legislative assembly to
fund public elementary and secondary education in North Dakota at the level of seventy percent
of the educational cost per student, as determined under the provisions of chapter 15.1-27, to
provide funds for the life skills and transition center, and to provide for water development and
utilization and energy conservation and development programs by enactment of an excise tax to
be known as the "oil extraction tax" and enactment of an income tax credit.
The legislative assembly has determined that many areas within the state of North Dakota
do not have adequate water supplies for municipal, domestic, livestock, light industrial, and
other uses. However, adequate water supplies are essential for th

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It is the intent of the electors of the state of North Dakota and the legislative assembly to
fund public elementary and secondary education in North Dakota at the level of seventy percent
of the educational cost per student, as determined under the provisions of chapter 15.1-27, to
provide funds for the life skills and transition center, and to provide for water development and
utilization and energy conservation and development programs by enactment of an excise tax to
be known as the "oil extraction tax" and enactment of an income tax credit.
The legislative assembly has determined that many areas within the state of North Dakota
do not have adequate water supplies for municipal, domestic, livestock, light industrial, and
other uses. However, adequate water supplies are essential for the social and economic stability
of municipalities and rural areas. It is, therefore, declared to be in the best interest of the people
of the state of North Dakota to establish a resources trust fund to be used to construct, or assist
in the construction of, multiple-use water supply facilities. The legislative assembly also
recognizes that appropriate planning to meet current and long-range water needs for the benefit
of all of the citizens of the state of North Dakota is a matter of concern and high priority. The
legislative assembly further intends that revenues generated by use of any facilities constructed,
in whole or in part, with financing from the resources trust fund shall be deposited in the
resources trust fund.