Alaska Ballot Proposition 5, General Stock Ownership Corporation Amendment (1980)

Alaska Ballot Proposition 5
Election date November 4, 1980
Topic Public economic investment policy and Restricted-use funds
Status Defeated
Type Legislatively referred constitutional amendment	Origin State legislature

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

Alaska Ballot Proposition 5
Result		Votes	Percentage
Yes		72,072	47.90%
No		78,404	52.10%

Results are officially certified.

Source

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

1980 Measures

• 1980 Measures
• Public economic investment policy on the ballot
• Restricted-use funds on the ballot
• 1980 legislative sessions

Alaska

• Alaska ballot measures
• Alaska ballot measure laws

News and analysis

• Ballot measure lawsuits
• Ballot measure readability
• Ballot measure polls