I hope you are enjoying a glorious fall in North Dakota. This is easily my favorite time of year. I hope we can hold onto it into November! Wishful thinking…I know.
Just this afternoon, news broke that the North Dakota Supreme Court struck down a key budget bill – that of the Office of Management and Budget (OMB). This is the funding bill for much of state government and was the last bill to be finalized during the most recent Legislative Session. And it often gathers other “cats and dogs” that aren’t necessarily budgetary in nature (i.e. last chance to impute policy issues). Therein lies the rub, at least for the board overseeing North Dakota’s government retirement plans. The OMB bill included a change that increased the number of lawmakers who sit on the board from two to four. The board opposed this and challenged its constitutionality. Given the court’s ruling, the Legislature will need to convene. They could reconvene using the five days they saved from the 80-day constitutional limit. Or Governor Burgum could call a special session. Either way, it will have to be quick! One just never knows what might crop up on an otherwise run-of-the-mill Thursday!
While we’re already into the last quarter of the year, please keep in mind that we still have a couple very timely educational sessions remaining on the 2023 calendar including “Community Bankers for Compliance Fall Regulatory 2-Day Seminar” on October 17-18 and the “Real Estate Construction Lending Workshop” on October 25-26 which is back by popular demand. We’re also in the planning stages of some new and exciting educational offerings for 2024 so stay tuned!
Until next time,