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Alaska Ballot Proposition 5, General Stock Ownership Corporation Amendment (1980)
| Alaska Ballot Proposition 5 | |
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| Election date |
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| Topic Public economic investment policy and Restricted-use funds |
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| Status |
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| Type Legislatively referred constitutional amendment |
Origin |
Alaska Ballot Proposition 5 was on the ballot as a legislatively referred constitutional amendment in Alaska on November 4, 1980. It was defeated.
A "yes" vote supported establishing a general stock ownership corporation in Alaska, a private, resident-owned entity that distributes shares to Alaskans, and is authorized to borrow and invest funds. |
A "no" vote opposed establishing a general stock ownership corporation in Alaska, a private, resident-owned entity that distributes shares to Alaskans and is authorized to borrow and invest funds. |
Election results
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Alaska Ballot Proposition 5 |
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| Result | Votes | Percentage | ||
| Yes | 72,072 | 47.90% | ||
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78,404 | 52.10% | ||
Text of measure
Ballot title
The ballot title for Ballot Proposition 5 was as follows:
| “ | This measure establishes a general stock ownership corporation (AGSOC) in Alaska. It will be a private corporation owned by Alaskans. Shares will be distributed without charge to Alaska residents who wish to become stockholders. The corporation will not be subject to income tax and this is expected to enhance its financial success. Shareholders will be subject to taxes on their share of the corporation’s taxable income, whether or not it is distributed to them, and may not deduct corporate losses, if any. The corporation will borrow money for investment and repay loans from income. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
- See also: Amending the Alaska Constitution
A two-thirds vote in each legislative chamber of the Alaska State Legislature during one legislative session to refer a constitutional amendment to the ballot. That amounts to a minimum of 27 votes in the Alaska House of Representatives and 14 votes in the Alaska State Senate, assuming no vacancies. Amendments do not require the governor's signature to be referred to the ballot.
See also
Footnotes
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State of Alaska Juneau (capital) |
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