Alabama General Obligation Bond Amendment, Amendment 2 (2012)
Revision as of 07:30, 30 October 2012 by Alejandortiz
|Referred by:||Alabama Legislature|
|Status:||On the ballot|
- See also: 2012 ballot measure election results
LIVE election results will be posted when polls close on November 6, 2012 and when numbers start to roll in.
|Alabama Amendment 2|
|Result not yet known|
Text of measure
The ballot language that voters will see reads as follows:
|“||Proposing an amendment to the Constitution of Alabama of 1901, as amended, to allow issuance by the State from time to time of general obligation bonds under the authority of Section 219.04 and Section 219.041 to the Constitution of Alabama of 1901, as amended, so long as the aggregate principal amount of all such general obligation bonds at any time outstanding is not in excess of $750 million. This amendment would replace the maximum aggregate principal limitations currently contained in said Sections 219.04 and 219.041. The proposed amendment would also allow issuance by the State of general obligation refunding bonds under the authority of Sections 219.04 and 219.041 to the Constitution of Alabama of 1901, as amended, subject to certain minimum savings thresholds and limitations of maximum average maturity. (Proposed by Act 2012-567)
Yes ( ) No ( )
- The main sponsor of the measure was State Representative Jay Love.
- Alabama Governor Robert Bentley has stated support for the measure.
- Bentley stated in a column published by the Birmingham News, "Passage of Amendment 2 will allow the state to provide financial incentives that will attract new companies while also helping existing companies expand and hire more Alabamians. Amendment 2 will help us accomplish this without raising taxes, without increasing the state's debt limit and without increasing the size of state government."
No opposition has been identified yet.
- 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
- Alabama Secretary of State, "Act Number 2012-567", Retrieved June 11, 2012
- Alabama Secretary of State, "Certification of proposed constitutional amendments", Retrieved October 4, 2012
- Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.
- Alabama Secretary of State, "House Bill 12", Retrieved September 17, 2012
- The Republic, "Alabama Gov. Bentley makes case for Amendment 2; says it will help draw industry, create jobs", September 28, 2012
- Birmingham News, "Passage of Amendment 2 critical to attracting industry to Alabama (Opinion)", October 17, 2012
- Alabama.com, "OUR VIEW: Proposed constitutional amendment would help state's industrial recruiting efforts", May 30, 2012