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Associated Press, Published July 09 2013

West Virginia lawmakers to visit North Dakota to study Legacy Fund

BISMARCK — State lawmakers from West Virginia are coming to North Dakota this summer to learn more about the state's efforts to set aside tax money generated by the oil and gas industry.

North Dakota's Legacy Fund gets 30 percent of the state's oil tax collections. It topped $1 billion in assets in April. None of the money can be spent until 2017, and only then if the Legislature decides by a two-thirds vote to dip into the fund.

West Virginia Senate President Jeff Kessler will lead that state's delegation. He has advocated the creation of a similar fund in West Virginia.

The date of the trip to North Dakota hasn't been finalized. About a dozen West Virginia lawmakers are expected to take part.

Copyright 2013 The Associated Press.