A bill making its way through the North Dakota Legislature aims to increase transparency around the state's multi-billion dollar Legacy Fund by requiring the creation of a publicly accessible website detailing its investments. House Bill 1319, sponsored by Representatives Satrom, Ostlie, and Senator Conley, would mandate the State Investment Board to maintain a website listing all companies, funds, and financial mechanisms in which the Legacy Fund is invested.
The proposed website would provide detailed disclosure of the state’s investments while adhering to state and federal regulations. The bill seeks to give taxpayers and policymakers greater insight into how the fund—originally established from oil tax revenues—is being utilized. Supporters argue that making investment details publicly available will promote accountability and ensure that the fund is managed responsibly.
Under the legislation, the State Retirement and Investment Office would be authorized to spend necessary funds—within legislative appropriations—to develop and maintain the website. If passed, this initiative would make North Dakota one of the few states to offer real-time investment transparency for a state wealth fund.
The bill comes amid growing public interest in the Legacy Fund’s role in shaping North Dakota’s financial future. Lawmakers will now debate whether enhanced transparency could help guide investment decisions while ensuring the fund continues to generate long-term returns for the state. This bill is currently navigating its way through varying committees before eventual floor votes by the house and senate.
Follow the bill and its progress here
