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Measure Details

Louisiana Budget Stabilization Fund Amendment

Louisiana Ballot Measure - Act 424

Election: Oct. 22, 2011 (Primary)
Outcome: Failed

Categories:
Constitution
Government Budget and Spending
Natural Resources and Energy

Yes
433,204
(49.41%)

No
443,634
(50.59%)

Summary

Constitutional amendment to provide relative to deposits into the Budget Stabilization Fund.

Measure Text


    Be it further resolved that on the official ballot to be used at said election there shall be printed a proposition, upon which the electors of the state shall be permitted to vote FOR or AGAINST, to amend the Constitution of Louisiana, which proposition shall read as follows:

    To provide that if at any time mineral revenues exceed the base provided by law and monies are withdrawn from the Budget Stabilization Fund, no deposit of mineral revenues shall be made to the Budget Stabilization Fund in the same or ensuing fiscal year in which monies in the fund are appropriated or incorporated into the official forecast, except by specific legislative appropriation, and thereafter deposits of mineral revenues into the fund shall resume except in an annual amount not to exceed one-third of the most recent amount appropriated or incorporated into the official forecast.

    (Adds Article VII, Section 10.3(C)(5))

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