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Montana Trust Fund Amendment, 2010

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The Montana Trust Fund Amendment, also known as CI 103, did not appear as an initiated constitutional amendment on the November 2, 2010 statewide ballot in Montana. The measure was being sponsored by the Montana Silver Haired Legislature. The measure, if enacted by Montana voters, would have mandated that the Montana Legislature transfer 10 percent or more of the state's share of oil and natural gas production taxes to the Older Montanans Trust Fund.[1]

Text of measure

Ballot language

The ballot language of measure read:

CI-103 amends the Montana Constitution to require the legislature to transfer at least 10 percent of the state’s share of oil and natural gas production taxes to the Older Montanans Trust Fund. The legislature can spend trust income for services, as defined by state law, to benefit Montana residents age 60 or older. Unless the trust principal exceeds $100 million, the legislature may spend the principal for those services only by a vote of three-fourths of both houses.[2]

[ ] FOR amending the Montana Constitution to transfer state oil and gas tax revenue to a trust fund to provide services for older Montanans.
[ ] AGAINST amending the Montana Constitution to transfer state oil and gas tax revenue to a trust fund to provide services for older Montanans.

Constitutional changes

If enacted by Montana voters, the measure would have added Article IX, Section 8 to the Montana Constitution to read as follows:[3]

(1) The legislature shall annually dedicate not less than ten percent(10%) of the state’s share of the proceeds of oil and natural gas production taxes to the older Montanans trust fund. This fund shall also be endowed with money transferred from the statutorily created older Montanans trust fund.
(2) When the trust’s principle is less than one hundred million dollars ($100,000,000) it may not be appropriated except by vote of three-fourths (3/4) of the members of each house of the legislature.
(3) Trust interest and income and principal in excess of one hundred million dollars ($100,000,000) may be expended upon a majority of both houses of the legislature to fund services for older Montanans as provided by law.

Path to the ballot

See also Laws governing the initiative process in Montana

Petition circulators had until the June 18, 2010 petition drive deadline to turn in the required 48,673 signatures, since the proposed measure is a citizen-initiated constitutional amendment. Reports out of Montana awere saying that the measure's sponsors were certain that they had not collected enough signatures to qualify it for the ballot. Counties had until July 16, 2010 to send verified signatures to the Montana Secretary of State's office, where the Secretary of State may or may not qualify it for the ballot, pending another review of signatures. The measure did not collect enough signatures for the ballot, however.[4][5]

See also

Additional reading

References