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Montana Big Sky Dividend, CI-63 (1992)

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The Montana Big Sky Dividend Amendment, also known as C-63, was a initiated constitutional amendment on the November 3, 1992 ballot in Montana, where it was defeated.

CI-63 was regarding the spending of the Coal Severance Tax Trust Fund principle on local government facilities and improvements.[1]

Election results

CI-63 (Big Sky Dividend)
Defeatedd No219,40357.1%
Yes 165,126 42.9%

Official results via: The Montana Secretary of State

Text of measure

The language that appeared on the ballot:

An amendment to the Constitution proposed by initiative petition.
The Montana Constitution requires that at least 50% of coal severance taxes be dedicated to a trust fund. The Legislature may spend trust fund interest and earnings by majority vote, bu may not spend its principal without a 3/4 vote of each Legislative house. This initiative would amend the Constitution to require that the coal severance taxes deposited in the trust fund for the next ten years be placed in a special fund. The special fund's principal could be appropriated by majority vote of the Legislature solely for the purpose of financing capital costs of local government facilities and improvements.
FISCAL NOTE: The proposal redirects coal severance tax revenues for ten years from the permanent trust account to the Big Sky Dividend Program. Approximately $168.0 million will be available from the trust account, over the ten-year period, for the purpose of financing capital costs of facilities and improvements for local government units.[2]

See also

Suggest a link

External links