South Dakota Use State Funds to buy Stocks (1998)

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South Dakota Amendment G was an Amendment to Article VIII of the South Dakota Constitution, permitting the investment of permanent school funds in certain stocks, bonds, mutual funds, and other financial instruments. It was on the 1998 election ballot in South Dakota where it was defeated with 150,907 votes opposed.

Text of measure

The S.D. Investment Council manages and invests the state permanent school fund and other educational or charitable funds. The Investment Council may not buy stocks, mutual funds, or similar investments with this money. Additionally, if any of these funds lose money, the Legislature must reimburse all losses. Amendment G would allow the Investment Council to purchase stocks and similar investments. If these investments lose money, the Legislature would only be required to reimburse if the loss was caused by imprudence or other unconstitutional acts.


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See also