Alaska Stock Ownership Corporation, Proposition 5 (1980)

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The Alaska Stock Ownership Corporation Amendment, also known as Proposition 5, was on the November 4, 1980 ballot in Alaska as a legislatively-referred constitutional amendment, where it was defeated. The measure would have established a general stock ownership corporation (AGSOC) in Alaska. The AGSOC would have been a private corporation owned by Alaskans.[1]

Election results

Alaska Proposition 5 (1978)
Defeatedd No78,40452.10%
Yes 72,072 47.90%

Election results via: Alaska Department of Elections

Text of measure

The language appeared on the ballot as:[1]

Ballot Proposition 5

This measure establishes a general stock ownership corporation (AGSOC) in Alaska. It will be a private corporation owned by Alaskans. Shares will be distributed without charge to Alaska residents who wish to become stockholders. The corporation will not be subject to income tax and this is expected to enhance its financial success. Shareholders will be subject to taxes on their share of the corporation's taxable income, whether or not it is distributed to them, and may not deduct corporate losses, if any. The corporation will borrow money for investment and repay loans from income.[2]

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  1. 1.0 1.1 ICPSR, "Referenda and Primary Election Materials," accessed January 27, 2015
  2. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.