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NEWS: FOR IMMEDIATE RELEASE – DECEMBER 11, 2024

Board of University and School Lands Announces Record Distributions for 2025-2027 Biennium

Bismarck, ND – On behalf of the Board of University & School Lands, the Department of Trust Lands is pleased to announce historic distributions for the upcoming 2025-2027 biennium, reflecting a significant increase in asset values. The Board, in close collaboration with Trust Lands staff, has carefully managed assets including over 700,000 surface acres, 2.6 million mineral acres, and 13 permanent trusts. This prudent management has preserved the integrity of the assets while driving significant growth, leading to a 17% biennial increase in overall distributions to fund beneficiaries.

This record growth stems from a powerful combination of factors, including $2 billion in oil and gas royalties generated over the last five years from nearly 10,000 wells, agricultural rents, easement revenues, and a well-diversified $7.4 billion investment portfolio, all of which directly strengthen the funding of education in North Dakota both now and for future generations. The Common Schools Trust Fund, with a June 30, 2024 value of $7 billion, makes up the vast majority of the Land Board’s investment portfolio.

The Department of Trust Lands will distribute nearly $620 million dollars over the next two years to the following beneficiaries:

• Common Schools Trust Fund (K-12 Public Education) - $584,677,350
• North Dakota State University - $8,770,000
• University of North Dakota - $6,948,000
• Youth Correctional Center - $3,136,000
• State College of Science - $2,570,284
• School for the Deaf - $2,388,000
• State Hospital - $1,976,284
• School for the Blind - $1,936,284
• Valley City State University - $1,566,000
• Mayville State University - $1,102,000
• Veterans Home - $994,284
• Dickinson State University – $406,284
• Minot State University – $406,284
• Dakota College at Bottineau - $406,284

"We are proud to announce record distributions, demonstrating the Land Board’s ongoing commitment to prudently manage North Dakota’s trust land assts and support the state’s educational needs," said Joseph Heringer, Trust Lands Commissioner "These funds will continue to ensure that education in our state remains strong, now and for generations to come."

Full Press Release

The Department of Trust Lands on behalf of the Board of University & School Lands has concluded the fall auction season.

2024 Auction Results by County

2024 Unleased Tracts Memo

North Dakota, 25 other states settle unclaimed property dispute over checks issued by MoneyGram 

States will take possession of more than $190M in unclaimed property, including $2.2M to North Dakota; citizens urged to visit website to check if any of the money is theirs

BISMARCK, N.D. (Oct 1, 2024) – Officials from the state of Delaware and a bipartisan coalition of 30 states, including North Dakota, announced they have agreed to a settlement of an unclaimed property dispute before the U.S. Supreme Court. In 2023, a unanimous U.S. Supreme Court sided with Arkansas, and its coalition partners, that unclaimed official checks issued by MoneyGram Payment Systems Inc. are governed by the Federal Disposition Act.

Under the terms of the settlement, Delaware will transfer to the coalition states more than $102 million of the property that MoneyGram reported to Delaware from 2011 to 2017. Delaware’s transfer represents roughly half of the report years disputed in the litigation.

In addition, approximately $89 million had been deposited by MoneyGram in a litigation escrow account from 2018 to 2022. These funds, plus interest earned, will be distributed among all 50 states based on each instrument’s place of purchase. North Dakota will receive $1,268,765 from the escrow account, along with $925,678 from the state of Delaware, for a total of approximately $2.2 million. 

The North Dakota Unclaimed Property Division will assume custody of those funds and return them to rightful owners as claims are received. Until these funds are claimed by their rightful owners, the money will be held in the state’s Common Schools Trust Fund to help fund North Dakota K-12 public education.

“North Dakota is pleased to bring this matter to a close with the signing of this historic interstate settlement agreement,” said Joseph Heringer, North Dakota Trust Lands Commissioner and Unclaimed Property Administrator. “Please take a few minutes to visit our website at www.unclaimedproperty.nd.gov to see if any of this $2.2 million belongs to you.”

Contact:

Susan Sommerfeld, Director Unclaimed Property Division

smsommerfeld@nd.gov

701-328-1944

Full Press Release

The following Minerals Management Division fees have been changed or eliminated as follows:

Minerals Management Division Fee                                Amount/Per
Oil & Gas Lease Nomination Fee                                         $0.00    
Oil & Gas Lease Application Fee (upon winning lease)       $50.00/tract
Oil & Gas Lease Assignment Fee                                         $0.00    
Oil & Gas Lease Extension/Amendment Application Fee    $1,000.00/lease
Oil & Gas Lease Shut-in Application Fee                             $100.00/lease
Coal Lease Assignment Fee                                                 $0.00    
Coal Lease Amendment, Renewal Request Fee                   $0.00    

Spring 2024 Surface Lease Auction Restults 

Spring 2024 Surface Lease Auctions Unleased Tracts Available for Lease

Thank you for your continued support of funding K-12 education in North Dakota.

The Most Recent Survey - 2024 County Rents and Prices Survey

Last Year's Survey - 2023 County Rents and Prices Survey

Past Surveys can be found under the Resources tab.

The most recent Department of Trust Lands' Biennial Report is now available! - 2021-2023 Biennial Report

To view the Department's historical reports please visit Resources - Biennial Reports.

Watch the Red Tape Reduction video here

Public input is now being accepted for the second round of Gov. Doug Burgum’s Red Tape Reduction initiative aimed at eliminating unnecessary and outdated regulations, rules, policies and procedures to make government more efficient and effective and help lower costs for taxpayers, Lt. Gov. Tammy Miller announced today.

Help reduce State red tape and submit your suggestions here - Red Tape Reduction Working Group | North Dakota Office of the Governor (nd.gov)

Nearly $500M to be distributed to K-12 from Common Schools Trust Fund this biennium, easing pressure on property taxes and state’s general fund

BISMARCK, N.D. (JULY 27, 2023) –The state of North Dakota collected a record $522.5 million in oil and gas royalties paid on state-owned mineral acres during the fiscal year ending June 30, 2023, according to information presented today to the North Dakota Board of University and School Lands (Land Board). This is on top of a previous record of $457 million in fiscal year 2021-22...

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At the Board of University & School Lands regular April meeting the Department of Trust Lands (DTL) presented an overview of the trusts and funds they manage, including the upcoming 2023-2025 distributions to our beneficiaries, to showcase the contribution these distributions make towards the beneficiaries' budgetary needs.

DTL 2023-2025 Trusts and Funds Summary