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Montana Treasure State Endowment Fund, LR-110 (June 1992)
|LR-110 (Montana Treasure State Endowment Fund)|
Official results via: The Montana Secretary of State
Text of measure
The language that appeared on the ballot:
- This proposal was submitted by the Legislature for a vote. The Montana Constituion requires that 50% of coal severance taxes be dedicated to a trust fund. This measure would create an endowment fund within the permanent trust which, for twenty years, would capture 1/2 of all money flowing into the trust that is not otherwise allocated by the Legislature. The endowment fund's principal could not be spend, but its earnings would be used to provide financial assistance for targeted local government infrastructure projects. Project proposals would be submitted by local governments, reviewed by the Governor, and recommended for legislative approval.
- FISCAL NOTE: This measure redirects coal severance tax from the permanent trust to a treasure state endowment trust. Trust interest will partially finance local governments' capital facilities and improvements. The interest earned in 1994 will be approximately $1.5 million and will increase to $18.5 million by the year 2013.
- List of Montana ballot measures
- 1992 ballot measures
- Montana 1992 ballot measures
- Montana Big Sky Dividend, Amendment CI-63 (1992)
- Statutory Initiative and Referendum Issues - The Montana Secretary of State
- Montana 1992 Primary Election Voter Information Pamphlet
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