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Oregon ballot measure 48 was one of two unsuccessful ballot measures sponsored by the Taxpayers Association of Oregon (TAO) on the November 7, 2006 general election ballot. Measure 48 was an initiated constitutional amendment ballot measure. Oregon statute currently limits state appropriations to 8% of projected personal income in Oregon. If Governor declares emergency, legislature may exceed current statutory appropriations limit by 60% vote of each house. This measure would have added a constitutional provision limiting any increase in state spending from one biennium to next biennium to the percentage increase in state population, plus inflation, over previous two years. Certain exceptions to limit, including spending of: federal, donated funds; proceeds from selling certain bonds, real property; money to fund emergency funds; money to fund tax, "kicker," other refunds were included in the provisions of the measure. It also would have provided that spending limit may be exceeded by amount approved by two-thirds of each house of legislature and approved by majority of voters voting in general election.
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The Nigeria Sovereign Investment Authority is a Nigerian establishment which manages the Nigeria sovereign wealth fund, into which the surplus income produced from Nigeria's excess oil reserves is deposited. This sovereign wealth fund was founded for the purpose of managing and investing these funds on behalf of the government of Nigeria. The fund was established by the Nigeria Sovereign Investment Authority Act 2011, signed in May 2011, and commenced operations in October 2012. It is intended to invest the savings gained on the difference between the budgeted and actual market prices for oil to earn returns that would benefit future generations of Nigerians. The fund was allocated an initial US$1 billion in seed capital, and, an additional $0.60billion has been contributed to date by the current administration. In October 2023, the fund has US$2.3 billion in assets under management.
A severance tax is an article of legislation that imposes a tax on the extraction of natural resources. In the United States, California is the only state that does not impose a significant severance tax. Instead, California imposes a statewide assessment fee, as set by the California Department of Conservation, and individual counties may choose to impose an ad valorem tax on a per county basis. Over the years, several measures have been introduced as ballot initiatives and legislation in an attempt to pass a statewide severance tax, though none has become law.
Oregon's Emergency Board is a statutory legislative committee composed of members of both houses of the Oregon Legislative Assembly. It has broad powers to allocate general fund resources, lottery revenue, and other state funds for unanticipated government requirements when the state legislature is not in session. The board can authorize an agency to overspend its approved budget or approve a new budget amount for specific agency tasks. It can also authorize the transfers of funds between agencies or budget accounts. The Emergency Board is jointly chaired by the President of the Oregon Senate and the Speaker of the Oregon House of Representatives.
The North Dakota Industrial Commission is the body that oversees the management of several separate programs and resources, including the Bank of North Dakota, North Dakota Mill and Elevator, and the Department of Mineral Resources. By law, it has three members: the Attorney General, the Agriculture Commissioner, and the Governor, who acts as chair.
References
- ↑ North Dakota State Constitution, Art. X, sec. 26.
- 1 2 3 "North Dakota's Legacy Fund: Building a Bridge to the Future" (PDF). betterenergy.org. p. 14. Retrieved 8 May 2024.
- ↑ "Legacy Fund". Retirement Investment Office. 19 June 2023.
- ↑ "North Dakota's Oil Boom is over. What Now?". The Atlantic . 27 June 2015.
- ↑ Turley, Jeremy (Feb 10, 2023). "Bill shapes spending of North Dakota Legacy Fund earnings". The Bismarck Tribune. Retrieved May 5, 2023.
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