West Virginia Future Fund Amendment (2014)

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The West Virginia Future Fund Amendment will not appear on the November 4, 2014 ballot in West Virginia as a legislatively-referred constitutional amendment. The measure would have established a “West Virginia Future Fund” for the state to accumulate interest revenues to be send on education, workforce development, economic development and diversification, infrastructure and tax relief. The fund would have only be tapped for revenues six years after the fund's implementation.[1]

The measure's assigned legislative name was Future Fund Amendment.[1]

The proposed amendment was sponsored in the West Virginia Legislature by Senate President Jeffrey Kessler (D-2) as Senate Joint Resolution 14.[2]

Text of measure

Ballot summary

The ballot purpose summary would have read as follows:[1]

The purpose of this amendment is to protect the principal of the West Virginia Future Fund and to specify how the interest from the fund may be spent.[3]

Constitutional changes

The proposed amendment would have added a Section 9 to Article X of the Constitution of West Virginia:[1]

12. Future Fund Amendment.
The principal of the “West Virginia Future Fund,” as created by general law, may not be spent, appropriated or encumbered. Interest income of the West Virginia Future Fund may be spent, appropriated or encumbered after a term of six years following the statutory creation of the West Virginia Future Fund. Interest income of the West Virginia Future Fund may be spent, appropriated, or encumbered solely for enhancing education and workforce development; economic development and diversification; infrastructure improvements; and tax relief measures for the benefit of the citizens and businesses of the State of West Virginia in a manner and subject to conditions, definitions, qualifications and requirements as prescribed by general law.

Support

Supporters

Path to the ballot

See also: Amending the West Virginia Constitution

According to the West Virginia Constitution, a two-thirds vote in both chambers of the West Virginia Legislature was required to refer an amendment to the ballot. On February 26, 2014, SJR 14 was approved in the West Virginia Senate. On March 8, 2014, SJR 14 was defeated in the West Virginia House of Representatives in a 48 in favor to 45 against vote.[2] This vote was a simple majority, but not the required supermajority. Therefore, SJR 14 will not appear on the ballot.

See also

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External links

References

  1. 1.0 1.1 1.2 1.3 West Virginia Legislature, "Senate Joint Resolution 14 Text," accessed February 21, 2014
  2. 2.0 2.1 2.2 West Virginia Legislature, "Senate Joint Resolution 14," accessed February 21, 2014
  3. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.

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