BISMARCK, N.D. (AP) - North Dakota Voters have approved a measure that will allow lawmakers to tap the state's foundation aid stabilization fund.
The fund was established in 1994 by voters. It's been a financial backstop to North Dakota's primary state program for supporting local elementary and high schools. It was only to be used by the governor to provide education aid if tax collections fall short.
The measure approved Tuesday allows lawmakers to use the money for education-related purposes when the principal exceeds a certain threshold.
The fund is financed by a share of North Dakota's oil extraction tax. It currently holds about $573 million and has been growing at a rate of about $6 million monthly.
The North Dakota School Board Association opposed the measure, while the union representing teachers supported it.