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Measure Details

Allow Up To 25 Percent of Certain Public Funds to be Invested in Private Corporate Capital Stock

Montana Ballot Measure - Constitutional Amendment 44

Election: General Nov. 4, 2008 (General)
Outcome: Failed

Categories:
Constitution
Government Budget and Spending

Yes
118,178
(25.93%)

No
337,656
(74.07%)

Summary

AN AMENDMENT TO THE CONSTITUTION PROPOSED BY THE LEGISLATURE AN ACT SUBMITTING TO THE QUALIFIED ELECTORS OF MONTANA AN AMENDMENT TO ARTICLE VIII, SECTION 13, OF THE MONTANA CONSTITUTION TO ALLOW UP TO 25 PERCENT OF CERTAIN PUBLIC FUNDS TO BE INVESTED IN PRIVATE CORPORATE CAPITAL STOCK; AND PROVIDING AN IMMEDIATE EFFECTIVE DATE.

The 2007 Legislature submitted this proposal for a vote. This measure would amend the Montana Constitution to allow up to 25 percent of all state trust fund assets to be invested in private corporate capital stock. Currently, the Constitution allows only Retirement Funds and Workers’ Compensation Insurance Funds to be invested in private corporate capital stock.

In the short term, it is expected that income will be reduced while trust monies are transferred from bonds to stocks. In the long term, if historical investment performance continues, trust fund income may increase because aggregate stock values are expected to appreciate, while bond values do not.

[] FOR allowing up to 25% of all public funds presently restricted to fixed income investments to be invested in private corporate capital stock.

[] AGAINST allowing up to 25% of all public funds presently restricted to fixed income investments to be invested in private corporate capital stock.

Measure Text

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