Report on rainy day funds ranks N.D. 2nd in tax volatility, but doesn’t consider Legacy Fund
BISMARCK – A new report on state governments’ rainy day funds ranked North Dakota as the second most tax-volatile state in the nation, but the analysis didn’t consider the state’s more than $2 billion Legacy Fund from oil and gas tax revenues.
The report released Tuesday by The Pew Charitable Trusts, titled “Building State Rainy Day Funds,” focused only on budget stabilization funds that states use to manage ups and downs in tax revenue.
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