The Arizona Rules Governing the Sale or Leasing of State Lands Amendment, also known as Proposition 2, was on the November 5, 1940 ballot in Arizona as a legislatively-referred constitutional amendment, where it was approved. The measure established rules governing the sale and leasing of state lands.
| Arizona Proposition 2 (1940)|
| Yes|| 45,228|| 53.65%|
Election results via: Arizona State Library
Text of measure
The text of the measure can be found here.