Dustin Gawrylow, North Dakota WatchDog Network runs through a list of proposed bills and legislation that impact the energy industry in North Dakota and the Bakken.
House Bill 1452 was heard in late January in the House Energy and Natural Resources Committee. (watch the committee hearing video by clicking here)
House Bill 1412 is a bill that is designed to offer a 5-year 60% reduction in the coal power generation and conversion taxes. According to the fiscal note, this will amount to a $17.75 million per year ($35.5 million per biennium) industry-specific tax reduction.
House Bill 1380 creates a new legacy earnings fund to receive all of the constitutionally mandated legacy fund earnings transfers. It then stipulates the amount available for appropriation out of the new fund and directs the transfer of funding to a number newly created and existing funds.
HB 1380 is a well-intended bill designed to promote “economic diversification”.
Senate Bill 2291 will be heard this week, and its goal is to find ways for North Dakota to pull its investment funds out of stocks/funds that have adopted the ESG Investment Philosophy.
The premise of divesting from companies and funds that pursue ESG (Ethical, Social, Governance) philosophies is an emotional argument.
Gawrylow suggests the problems is, that it is an anti-capitalist approach being proposed in this bill.
House Bill 1458 is a bill that has been getting plenty of media coverage as it is a new twist on a bill from 2019.
HB 1448 creates a completely new tax on future wind power designed to subsidize coal power generation.
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