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Lawmakers would you like to spend oil income tax income in North Dakota businesses, infrastructure loans

Lawmakers would you like to spend oil income tax income in North Dakota businesses, infrastructure loans

A bipartisan number of North Dakota lawmakers has set its look on spending a chunk associated with state’s future oil tax income in regional organizations and infrastructure tasks.

Home Bill 1425 would direct the State Investment Board to designate 10% of taxation collections flowing in to the voter-approved Legacy Fund for producing loans tailored to North Dakota metropolitan areas, counties and companies. Another 10% could be earmarked to purchase shares as well as other equity in North companies that are dakota-based.