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Trust Lands budget prompts debate over unclaimed property transfer, FTEs and new revenue officer
Summary
Appropriations committee members examined competing Trust Lands budgets after executive proposals diverged on whether to transfer unclaimed property to the State Treasurer and on several FTE and operating adjustments.
The Appropriations - Government Operations Division spent substantial time on the Department of Trust Lands budget, focusing on whether unclaimed property should remain at Trust Lands or move to the State Treasurer’s office, differences in full-time equivalents (FTEs) between executive budgets, and a request for staff to pursue diversified revenue sources on state trust lands.
Joseph Herringer, Trust Lands Commissioner for North Dakota, told the committee that in many states unclaimed property is housed in the treasurer’s office and that there is “a tie there to to leave it where it is,” noting the proceeds support the common schools trust fund. He said moving unclaimed property would require “a bigger package of legislation” beyond a budget change and recommended more planning before pursuing a statutory transfer.
Adam (committee fiscal staff)…
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