Plain Talk

What are we going to do with the Legacy Fund?

There are a lot of things, and they generally fall into two broad categories. One is how the fund is invested, the other is what we do with the returns.

Insurance Commissioner Jon Godfread, who serves, as a part of his official duties, on the State Investment Board which oversees the investments of the Legacy Fund, has an idea for the latter of those categories.

Currently, the Legacy Fund has approximately $7 billion, and almost all of those dollars are invested outside of North Dakota. Nearly $1.7 billion of that total is not only invested outside of North Dakota, but outside the borders of the United States, including more than $107 million worth of investments in communist China.

Godfread doesn't necessarily want to address that specific issue, but he does want to focus some of the Legacy Fund's investments in North Dakota, and he talked about it on this episode of Plain Talk.

Currently, the SIB uses 32 money managers to guide investments. Godfread would like to add a 33rd called the North Dakota Investment Advisory Committee (IAC). The committee would be tasked with identifying good investments within the borders of North Dakota.

Those investments would pay returns to the Legacy Fund just like any other investment. This is not a plan to "spend" the Legacy Fund, only a proposed shift in how some of the fund's dollars are invested.

In addition to the direct investment returns, Godfread said the state a whole would benefit from the infusion of capital to entrepreneurs and projects that will, in turn, create more jobs and economic activity in our state.

Measure 2 is a constitutional amendment, put on the November ballot by the Legislature, which would change the initiated measure process for constitutional measures.

Activists would still collect and file signatures the same way, but if a measure amending the constitution is passed by voters, it wouldn't immediately be enacted. It would first go to the Legislature for an up-or-down vote.

If the Legislature approves, then the measure is enacted. If the Legislature votes it down, the measure automatically goes on the next general election ballot for another vote of the people. If approved again, then it is enacted.

Oh, and Measure 2 would require that constitutional amendments only be placed on November general election ballots, as opposed to June primaries.

On this episode of Plain Talk, Measure 2 opponents Ellie Shockley and Dustin Gawrylow try to convince me that the changes are a bad idea.

They didn't succeed, but I think our conversation is illuminating, both of the issues around Measure 2 the initiated measure process in general.

Measure 2 is a constitutional amendment, put on the November ballot by the Legislature, which would change the initiated measure process for constitutional measures.

Activists would still collect and file signatures the same way, but if a measure amending the constitution is passed by voters, it wouldn't immediately be enacted. It would first go to the Legislature for an up-or-down vote.

If the Legislature approves, then the measure is enacted. If the Legislature votes it down, the measure automatically goes on the next general election ballot for another vote of the people. If approved again, then it is enacted.

Oh, and Measure 2 would require that constitutional amendments only be placed on November general election ballots, as opposed to June primaries.

On this episode of Plain Talk, Measure 2 opponents Ellie Shockley and Dustin Gawrylow try to convince me that the changes are a bad idea.

They didn't succeed, but I think our conversation is illuminating, both of the issues around Measure 2 the initiated measure process in general.

Rob and Jay talk about Rep. Rick Becker wanting to be North Dakota's new state health officer, and the upcoming presidential debate.

Rob and Jay talk about Rep. Rick Becker wanting to be North Dakota's new state health officer, and the upcoming presidential debate.

Cramer talks Supreme Court and other topics during his regular appearance on the podcast.

Cramer talks Supreme Court and other topics during his regular appearance on the podcast.

"I have to own the miscue," Governor Doug Burgum said on this episode of Plain Talk.

He was referring to a quarantine order issued by his administration earlier this week which carried with it a misdemeanor criminal charge for anyone who violated it.

The order applied to people who came into close contact with someone positive for COVID-19.

Burgum said interim State Health Officer Dr. Paul Mariani noticed, upon taking his new position, that in the area of quarantines North Dakota wasn't in compliance with CDC guidelines. "He wanted to align those two things," Burgum said.

The result was the now-rescinded order, which included the misdemeanor charge because state law requires that to be the penalty for disobeying orders from the SHO.

"We know the government telling people what to do in North Dakota doesn't work," Burgum said, adding that his administration's goal is "compliance" and not punishing people.

"It didn't flag for me personally...that we were going to have the storm of reaction we did," Burgum said.

He said he'd like to work with the Legislature in the next session to give the SHO position some flexibility to issue orders without a criminal consequence for violating them.

"There wasn't a way for us to say that's an infraction instead of a misdemeanor," Burgum said, adding that he'd like to "get people to stop focusing on the penalty."

"I have to own the miscue," Governor Doug Burgum said on this episode of Plain Talk.

He was referring to a quarantine order issued by his administration earlier this week which carried with it a misdemeanor criminal charge for anyone who violated it.

The order applied to people who came into close contact with someone positive for COVID-19.

Burgum said interim State Health Officer Dr. Paul Mariani noticed, upon taking his new position, that in the area of quarantines North Dakota wasn't in compliance with CDC guidelines. "He wanted to align those two things," Burgum said.

The result was the now-rescinded order, which included the misdemeanor charge because state law requires that to be the penalty for disobeying orders from the SHO.

"We know the government telling people what to do in North Dakota doesn't work," Burgum said, adding that his administration's goal is "compliance" and not punishing people.

"It didn't flag for me personally...that we were going to have the storm of reaction we did," Burgum said.

He said he'd like to work with the Legislature in the next session to give the SHO position some flexibility to issue orders without a criminal consequence for violating them.

"There wasn't a way for us to say that's an infraction instead of a misdemeanor," Burgum said, adding that he'd like to "get people to stop focusing on the penalty."

Jodi Meisch and Will Thompson are two Democrats in North Dakota's 22nd legislative district. They are hoping to unseat to Republican incumbents, Rep. Brandy Pyle and Rep. Michael Howe.

On this episode of Plain Talk, they talk about the issues that are important to them, both big and small. We also delve into the complicated policy problems presented by property taxes and local control, as well as the difficulties inherent to campaigning as a Democrat in a state, and legislative district, that has come to view that political party suspiciously.