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Published August 28, 2012, 07:05 AM

Lawmakers hope N.D. oil tax fund isn’t raided

Some North Dakota lawmakers say they don’t expect much spending from a state oil tax trust fund, but they should be ready in case it happens.

BISMARCK (AP) — Some North Dakota lawmakers say they don’t expect much spending from a state oil tax trust fund, but they should be ready in case it happens.

An advisory board is hiring a consultant for advice on how to invest the oil fund. It was set up by North Dakota voters in 2010, and it already has about $500 million.

The Legislature can’t spend any of the fund for at least five years.

Hazen Sen. Randy Christmann is chairman of the advisory board. He said with North Dakota’s strong economy, he doubted the Legislature will dip into the fund. But he says things could change.

Wyndmere Sen. Jim Dotzenrod is a member of the advisory board. He said he’s hoping the fund will be allowed to grow.

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