BISMARCK, N.D. (AP) - The North Dakota Legislature has endorsed a change to a formula used to distribute oil and gas production tax revenue.
The fund currently sets aside 75 percent to the state and 25 percent to local governments. The House and the Senate voted Wednesday to amend the formula to give 70 percent to the state and 30 percent to communities affected by rapid growth.
Community leaders in western North Dakota's oil-producing counties and Governor Jack Dalrymple (DAHL'-rimp-ul) had pushed for a 60-40 split in favor of local governments.
But slumping oil prices have forced lawmakers to contemplate a more than $4 billion estimated shortfall in oil and gas tax revenue compared to a December forecast used by Dalrymple to craft his executive budget.