Louisiana Endowed Funds of Colleges and Universities Act, Amendment 10 (September 2006)
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|Amendment 10, Primary|
Text of measure
The language that appeared on the ballot:
To be considered in the September 30, 2006 primary election. To authorize the investment in stocks of up to thirty-five percent of the state-funded permanently endowed funds of public or private colleges and universities.
(Amends Article VII, Section 14(B))
HOUSE BILL NO. 345, REGULAR SESSION, 2006
Present Constitution prohibits the state or any political subdivision from loaning, pledging or donating any funds, credit, property, or things of value to any person, association, or corporation, public or private, except as specifically provided in this constitution. Prohibits the state or a political subdivision from subscribing to or purchasing the stock of a corporation or association or for any private enterprise with specific exceptions.
Proposed Constitutional Amendment retains present law and provides an exception that authorizes the investment in stocks of up to 35% of the public funds endowed of the state-funded permanently endowed funds of a public or private college or university.
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