An Alabama General Obligation Bond Amendment
will appear on the November 6, 2012 ballot
in the state of Alabama
as a legislatively-referred constitutional amendment
. The measure aims to allow the state to issue general obligation bonds of no more than $750 million. According to the text of the measure, the proposal was sent to the ballot during the 2012 state legislative session
- The Birmingham News stated at the time of the measure's legislative approval, "This November's general election ballot will have at least one proposed constitutional amendment deserving of approval...The Legislature in the closing hours of its special session last week approved a proposed constitutional amendment that rewrites the rules for a state commission that can sell up to $750 million in bonds to help land big economic-development projects. The amendment would make a common-sense change that would help give the state money it needs to lure businesses and jobs to Alabama."
Path to the ballot
Article XVIII of the Alabama Constitution says that it takes a three-fifths (60%) vote of the Alabama State Legislature to qualify an amendment for the ballot.
This statewide ballot measure article needs to be expanded.