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Proposed Amendment to the Constitution by the Legislature Relating to the Establishment of Permanent Funds

Arizona Ballot Measure - Proposition 118

Election: Nov. 6, 2012 (General)

Outcome: Passed

Categories:

Housing and Property
Constitution
Government Budget and Spending

Arguments For

Arguments Against

Measure Text

Changes the distribution formula for the state land trust permanent endowment fund, which funds various public institutions, including schools, to be 2.5% of the average monthly market values of the fund for the immediately preceding five calendar years.

A "yes" vote shall have the effect of changing the distribution formula for the State Land Trust Permanent Endowment Fund, which funds various public institutions, including schools, to be 2.5% of the average monthly market values of the Fund for the immediately preceding five calendar years. The change would affect fiscal years 2013 through 2021.

A "no" vote shall have the effect of keeping current constitutional law related to the distribution formula of the State Land Trust Permanent Endowment Fund.

Resources

Official Summary

Source
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