2. The principal of the legacy fund may be expended, but an expenditure of principal requires a vote of at least two-thirds of the members elected to each house of the legislative assembly. Not more than five percent of the principal of the legacy fund may be expended during a biennium.
3. Statutory programs, in existence as a result of legislation enacted through 2009, providing for impact grants, direct revenue allocations to political subdivisions, and deposits in the oil and gas research fund must remain in effect but the legislative assembly may adjust statutory allocations for those purposes.
4. The state investment board shall invest the moneys in the legacy fund.
5. On July first of each odd-numbered year, the state treasurer shall make a distribution from the legacy fund to a legacy earnings fund as provided by law, but a distribution may not result in an expenditure of principal.
