The North Dakota Legacy Fund is a sovereign wealth fund of the U.S. state of North Dakota. Contributions to the fund must include "[t]hirty percent of total revenue derived from taxes on oil and gas production or extraction."[1] The fund was established by ballot initiative in 2010. The fund is modeled after the Norwegian Sovereign Wealth Fund.[2] As of February 29, 2024, the fund is valued at $10.273 billion.[3] Projections made at the time the Legacy Fund was established estimate that it will be worth between $75 and $105 billion by 2039; between $149 and $240 billion by 2050; and between $240 and $450 billion by 2060. The fund intends to diversify wealth obtained from oil extraction into other sectors.[2] Money in the fund could not be spent by the state legislature until 2017.
^North Dakota State Constitution, Art. X, sec. 26.
^ ab"North Dakota's Legacy Fund: Building a Bridge to the Future" (PDF). betterenergy.org. p. 14. Retrieved 8 May 2024.
^"Legacy Fund". Retirement Investment Office. 19 June 2023.
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