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Wednesday, December 30, 2015

Legacy Fund Through December, 2015 -- December 30, 2015

Through December 2015, total deposits were $3,371,343,566.76.  Up about 3.3% from September 22, 2015; about $4,500 per North Dakota resident.

As a reminder, the bulk of the Legacy Fund comes from oil and gas tax revenue: thirty percent of total revenue derived from taxes on oil and gas production or extraction must be transferred by the State Treasurer to a special fund in the state treasury known as the Legacy Fund.

Let's assume the increase between December and September was all related to oil and gas tax revenue (not from other sources or from investments): the growth was $112,666,378. Thirty percent of what = $113 million? $338,337,471. From September 22, 2015, to "through December" is about two months. $338 million / 2 = about $170 million / month = about $2 billion / year.

State budgets as reported by wiki.

MinnesotaCBS, from January, 2014.

Link here for Legacy Fund numbers.

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  • As of September 22, 2015, total deposits were $3,258,677,188.91.
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