Arizona Proposition 118, State Land Trust Permanent Endowment Fund Amendment (2012)
| Arizona Proposition 118 | |
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| Election date |
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| Topic State and local government budgets, spending, and finance |
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| Status |
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| Type Legislatively referred constitutional amendment |
Origin |
Arizona Proposition 118 was on the ballot as a legislatively referred constitutional amendment in Arizona on November 6, 2012. It was approved.
A "yes" vote supported adjusting the distribution formula for the State Land Trust Permanent Endowment Fund to 2.5% of the average monthly market value of the fund. |
A "no" vote opposed adjusting the distribution formula for the State Land Trust Permanent Endowment Fund to 2.5% of the average monthly market value of the fund. |
Election results
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Arizona Proposition 118 |
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| Result | Votes | Percentage | ||
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950,938 | 50.52% | ||
| No | 931,238 | 49.48% | ||
Text of measure
Ballot title
The ballot title for Proposition 118 was as follows:
| “ | PROPOSING AN AMENDMENT TO THE CONSTITUTION OF ARIZONA; AMENDING ARTICLE X, SECTION 7, CONSTITUTION OF ARIZONA; RELATING TO THE ESTABLISHMENT OF PERMANENT FUNDS. | ” |
Ballot summary
The ballot summary for this measure was:
| “ | CHANGES THE DISTRIBUTION FORMULA FOR THE STATE LAND TRUST PERMANENT ENDOWMENT FUND, WHICH FUNDS VARIOUS PUBLIC INSTITUTIONS, INCLUDING SCHOOLS, TO BE 2.5% OF THE AVERAGE MONTHLY MARKET VALUES OF THE FUND FOR THE IMMEDIATELY PRECEDING FIVE CALENDAR YEARS. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
- See also: Amending the Arizona Constitution
A simple majority vote was needed in each chamber of the Arizona State Legislature to refer the constitutional amendment to the ballot for voter consideration.
See also
External links
Footnotes
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