BISMARCK, N.D.—Like many states, a new legislative session is underway in North Dakota, where an 80-day session has commenced.
The Credit Union Association of the Dakotas is once again sponsoring the Legislature Today radio show, which is broadcast nightly in a variety of media and “live” nightly from the historic Peacock Alley in Downtown Bismarck. The program is broadcast on several stations across the state Monday through Thursday from 7-8 p.m, with the Credit Union Association of the Dakotas the featured live guest(s) for 30 minutes every other Monday from 7 p.m. to 7:30 p.m. on the entire network.
A big issue in North Dakota this legislative session is the sharply lower prices for oil, of which the state is a major producer.
“Basically, lower oil prices means less revenues for the state, particularly if two tax triggers embedded in the extraction code are initiated,” noted the CUAD in its analysis. “Those triggers kick in when oil prices pass a certain level. The biggest concern is on the one stipulation in the code that would cut the effective oil tax in half if the price of crude falls below $52.58 per barrel for five straight months, and there’s another stipulation in the law which takes effect if the average price of crude for the last 30 days is less than $55 per barrel.”
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