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Published April 05, 2011, 12:50 PM

ND Lawmaker Wants to Free Up Money for Schools

A North Dakota school aid reserve fund has grown rapidly the past few years, thanks to booming oil tax revenues. A state lawmaker is proposing to limit the fund's future growth.

By: Associated Press,

BISMARCK, N.D. (AP) — A North Dakota school aid reserve fund has grown rapidly the past few years, thanks to booming oil tax revenues. A state lawmaker is proposing to limit the fund's future growth.

Jamestown Rep. Joe Kroeber (KRAY'-bur) is sponsoring a constitutional amendment that says the fund can grow only by 2 percent per year after it reaches $100 million. The state estimates the fund will reach $134 million by July.

Kroeber wants to move the surplus to another fund that gives money to schools each year. He says schools need the money now to cover rising costs.

The House approved the measure last month. If the Senate agrees, it will go on the 2012 ballot for voter approval.

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