Plain Talk With Rob Port

"This bill changes the legal guidelines." That's what former North Dakota Treasurer Kelly Schmidt had to say of a proposal, currently before the Legislature in Bismarck, which would invest 20 percent of the billions in the state's Legacy Fund in North Dakota businesses and infrastructure. Private entrepreneurs could access that capital to start up or expand their businesses. Also, local communities could access the money to finance infrastructure projects cheaper and quicker than they are at present. The Legacy Fund is already invested in these sort of things, just not in North Dakota. Currently, less than 2 percent of the Legacy Fund is invested in North Dakota. Schmidt spent 16 years at Treasurer before declining to run for another term last year, and that means she spent 16 years on the State Investment Board which oversees the Legacy Fund's fiscal management. Her objection to the legislation - it's House Bill 1425, introduced by Rep. Mike Nathe (R-Bismarck) and backed by Insurance Commissioner and SIB me