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Montana Compensation Insurance Fund Investment, Amendment C-31 (1996)

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The Montana Compensation Insurance Fund Investment Amendment, also known as C-31, was a legislatively-referred constitutional amendment on the November 5, 1996 ballot in Montana, where it was defeated.

C-31 sought to allow state compensation insurance fund money to be invested.

Election results

C-31 (Compensation Insurance Fund Investment)
ResultVotesPercentage
Defeatedd No214,12064.7%
Yes 116,752 35.3%

Official results via: The Montana Secretary of State

Text of measure

The language that appeared on the ballot:

The Legislature submitted this proposal for a vote. It would amend the Montana Constitution to allow monies in the state workers' compensation insurance fund to be invested in private corporate capital stock. Currently, the Constitution prohibits such investment of public funds except for monies contributed to retirement funds. Like pension funds, workers' compensation investments would be managed by the State Board of Investments in accordance with recognized standards of financial management.
Fiscal Statement: If the Montana Board of Investments had invested the maximum of 15% of the State Fund's assets in common stock in FY95, additional income would have been generated. The Montana Common Stock Pool twenty-year return average was 14.78% compared to the State Fund's FY95 return of 10.13%.[1]

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