BND Profits and Payments to General Fund and Other Funds (in thousands)
The Legislature appropriates the transfer of capital to the state’s general fund. Every legislative session, the state’s budget needs are reviewed, and the amounts designated from BND’s capital will vary based upon the needs of the state and BND’s desire to maintain liquidity and capital.
The Bank’s first transfer to the state’s general fund occurred in 1945 – $1,725. Since then, more than $1 billion has been transferred for the general fund and special programs. This has lowered tax rates for residents of North Dakota.