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Utah Investing in Stocks and Bonds, Amendment E (2008)

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Utah Investing in Stocks and Bonds, Amendment E was referred to the November 2008 ballot in Utah. This measure was a legislatively-referred constitutional amendment.

Election results

See also 2008 ballot measure election results

These results are based on the Elections Division of Utah.[1]

Utah Amendment E (2008)
ResultVotesPercentage
Approveda Yes 454,399 56.36%
No351,85043.64%

Background

An 1896 constitutional edict prevents state and local governments from investing in stocks or bonds of privately owned companies. One amendment to the rule was passed in 2005 that opened opportunities for financial involvement with private companies that sought intellectual property rights for innovations coming out of state schools. This new change would allow a portion of the money from the state school fund and revenues derived from federal lands granted to Utah when it gained statehood to be invested in stock and/or bond markets.[2]

Specific Provisions

The measure enacted the following provisions:

  • Amended the Utah Constitution to authorize the state to subscribe to stocks or bonds using the State School Fund and funds from federal land grants.[3]

This measure was a: legislatively-referred constitutional amendment

Opponents

None yet identified.

See also

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References