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Alaska Mineral Revenue Fund, Proposition 2 (1976)

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The Alaska Mineral Revenue Fund Amendment, also known as Proposition 2, was on the November 2, 1976 ballot in Alaska as a legislatively-referred constitutional amendment, where it was approved. The measure provided that 25 percent of "all mineral lease rentals, royalties, royalty sale proceeds, federal mineral revenue sharing payment and bonuses" shall be paid into a permanent fund. The principle of the fund would be used for income-producing investments by the state.[1]

Election results

Alaska Proposition 2 (1976)
ResultVotesPercentage
Approveda Yes 75,588 66.24%
No38,51833.76%

Election results via: Alaska Department of Elections

Text of measure

The language appeared on the ballot as:[1]

Proposition No. 2: This proposal would amend Article IX, Section 7 (Dedicated Funds) and add a new section to Article IX, Section 15 (Alaska Permanent Fund) of the Alaska Constitution. It would establish a constitutional permanent fund into which at least 25 percent of all mineral lease rentals, royalties, royalty sale proceeds, federal mineral revenue sharing payment and bonuses received by the state would be paid. The principal of the fund would be used only for income-producing investments permitted by law. The income from the fund would be deposited in the State's General Fund and be available for appropriation for the State unless law provided otherwise.[2]

Constitutional changes

The passing of Proposition 2 amended Sections 7 and 15 of Article IX of the Alaska Constitution.

See also

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External links

References

  1. 1.0 1.1 ICPSR, "Referenda and Primary Election Materials," accessed January 20, 2015
  2. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.