Saturday, September 17, 2016

North Dakota's Legacy Fund Up To $3.6 Billion -- August, 2016 Data -- September 17, 2016

Link here. Through August, 2016, total deposits were$3,608,954,954.

Through July,2016: $3,573,621,493.

I track the Legacy Fund here.

As a reminder: The principal and earnings of the Legacy Fund may not be expended until after June 30, 2017, and an expenditure of principal after that date requires a vote of at least two-thirds of the members elected to each house of the Legislative Assembly. Not more than fifteen percent of the principal of the Legacy Fund may be expended during a biennium.

15 percent of 3.6 billion = $540 million / 800,000 (North Dakota population) = $675 / resident.


Remember those blue boxes: long distance phone calls for free, decades ago? Now, the back story.

At this clip below, start at 6:15 to find out where this all began:

Magical, Steve Jobs

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