All Roll Calls
Yes: 220 • No: 2
North DakotaHB 12782025 Regular SessionHouseWALLET
AN ACT to create and enact two new sections to chapter 54-11 of the North Dakota Century Code, relating to the management of moneys in the state treasury and a cash management board; to provide a report; and to provide an expiration date.
Sponsored By: Mike Lefor (Republican)
Became Law
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
New board to manage state cash
The law creates a cash management and investment board. The board sets policies to protect principal, keep enough cash, and seek returns at acceptable risk. It must set cash priorities, plan for agency cash-flow needs, and define needed liquidity. The board labels money as operating cash, liquid reserves, or invested reserves and sets investment rules and risk. The state treasurer provides staff support, and the Bank of North Dakota advises. State agencies must give cash-flow and timing data when asked. The board includes the treasurer, budget director, Bank president, and four legislators. Legislative members get compensation and mileage under law, paid by the Legislative Council. The board reports at least once each fiscal year to the Budget Section.
Rules for investing state treasury money
The state treasurer manages and invests money in the state treasury under the board’s policies. This covers the general fund and special funds. It excludes the veterans’ postwar trust fund and funds run by the state investment board and the board of university and school lands. The treasurer may invest money as liquid or invested reserves, despite section 6-09-07. The treasurer must follow the prudent investor rule, keep correct accounts, and credit earnings to the right funds. The treasurer may pool funds for investment when that helps. The treasurer may not use social or ESG criteria for these investments. No one managing these investments may personally profit. A violation is a class A misdemeanor. Within legislative appropriations, the treasurer pays investment costs like advisor, trustee, custodial, audit, and manager-review fees. Each year, the treasurer issues a performance report with market values, returns, benchmarks, and costs, compared to the prior period.
Sponsors & Cosponsors
Sponsor
Mike Lefor
Republican • House
Cosponsors
Steve Swiontek
Republican • House
Don Vigesaa
Republican • House
Daniel R. Vollmer
Republican • House
Brad Bekkedahl
Republican • Senate
David Hogue
Republican • Senate
Dale Patten
Republican • Senate
Dean Rummel
Republican • Senate
Roll Call Votes
House vote • 4/2/2025
Second reading, passed, yeas 90 nays 1
Yes: 90 • No: 1
Senate vote • 3/20/2025
Second reading, passed as amended, yeas 45 nays 1
Yes: 45 • No: 1
House vote • 2/13/2025
Second reading, passed, yeas 85 nays 0
Yes: 85 • No: 0
Actions Timeline
Filed with Secretary Of State 04/11
4/14/2025HouseSigned by Governor 04/10
4/11/2025HouseSent to Governor
4/8/2025HouseSigned by Speaker
4/8/2025HouseSigned by President
4/4/2025SenateSecond reading, passed, yeas 90 nays 1
4/2/2025HouseConcurred
4/2/2025HouseReturned to House (12)
3/21/2025HouseSecond reading, passed as amended, yeas 45 nays 1
3/20/2025SenateAmendment adopted, placed on calendar
3/19/2025SenateReported back amended, do pass, amendment placed on calendar 13 1 2
3/18/2025SenateCommittee Hearing 03:15
3/17/2025SenateCommittee Hearing 08:30
3/7/2025SenateIntroduced, first reading, referred Appropriations Committee
2/17/2025SenateReceived from House
2/14/2025SenateSecond reading, passed, yeas 85 nays 0
2/13/2025HouseAmendment adopted, placed on calendar
2/12/2025HouseReported back amended, do pass, amendment placed on calendar 13 0 1
2/11/2025HouseCommittee Hearing 09:00
2/5/2025HouseIntroduced, first reading, referred Finance and Taxation Committee
1/13/2025House
Bill Text
Enrollment
FIRST ENGROSSMENT
FIRST ENGROSSMENT with Senate Amendments
INTRODUCED
Prepared by the Legislative Council staff for Representative Lefor
Prepared by the Legislative Council staff for Representative Steiner
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