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Michigan Park And Outdoor Recreation Fund Amendment, Proposal 2 (August 2002)

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Michigan Constitution
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Michigan Park and Outdoor Recreation Fund Amendment, Proposal 2 (August 2002) was on the August 06, 2002 primary election ballot in Michigan as a legislatively-referred constitutional amendment, where it was approved.

Election results

Proposal 2 (Park And Outdoor Recreation Fund Amendment)
Approveda Yes 925,425 62.1%

Official results via: The Michigan Secretary of the State

Text of measure

The language that appeared on the ballot:

The proposed constitutional amendment would:

1. Allow certain permanent and endowment funds, including Natural Resources Trust Fund, State Parks Endowment Fund and Veterans Trust Fund, to be invested as provided by law, eliminating prior restriction on investing in stocks.

2. Increase Natural Resources Trust Fund cap on assets from $400 million to $500 million.

3. Allow the Natural Resources Trust Fund to continue to annually expend up to 33-1/3% of Fund royalties or other revenues, up to a new asset cap of $500 million.

4. Increase allowed State Parks Endowment Fund spending to include interest and earnings and up to 50% of funds received from Natural Resources Trust Fund.

Campaign funding

No available information.

See also

Suggest a link

External links