Panel seeking ideas to spend oil tax money likely to remain

BISMARCK, N.D. (AP) — The Legislature is set to continue a committee that’s studying ways to spend earnings from North Dakota’s voter-approved oil tax savings account. The Legacy Fund Earnings Committee got the approval by the House and is poised to get the OK in the Senate. The 11-member committee includes Senate and House majority and minority leaders. The committee was formed to years ago and has held several meetings around the state but has not yet developed a plan for Legacy Fund earnings. The fund has hold about $8 billion and is expected to earn about $500 million in the next budget cycle.