Arkansas Criteria for Economic Development Bonds, Proposed Amendment 3 (2010)

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The Arkansas Criteria for Economic Development Bonds Amendment, also known as Proposed Amendment 3, was on the ballot in Arkansas on November 2, 2010, as a legislatively referred constitutional amendment, where it was approved. The measure lowered the threshold for issuing state bonds to attract major new industries to Arkansas. Representative Robbie Wills was the author of the measure.

Election results

See also: 2010 ballot measure election results

Arkansas Proposed Amendment 3 (2010)
Result		Votes	Percentage
a Yes		431,724	62.35%
No		260,735	37.65%

Election results via: Arkansas Secretary of State

Text of amendment

Summary

The summary of the amendment read as follows, according to the 87th Legislative Session:

This resolution proposes to amend Amendment 82 of the Arkansas Constitution to authorize the General Assembly to establish criteria before authorizing the issuance of bonds for prospective employers planning an economic development project.

Constitutional changes

The measure was proposed to amend Amendment 82(d) of the Arkansas Constitution. The text of that amendment read:

(d) The General Assembly may authorize the issuance of bonds bearing the full faith and credit of the State of Arkansas if the prospective employer planning an economic development project is eligible under criteria established by law.

The amendment will go into effect on May 2, 2011.

Support

Supporters

• The Arkansas Chamber of Commerce/Associated Industries of Arkansas was leading the campaign in support of the measure, along with Issue 2.

• The Arkansas Municipal League supported the amendment, believing that the proposal would further strengthen economic development across the state.

• The Fort Chaffee Redevelopment Authority voted to support the measure on September 16, 2010, along with Issue 2 on the Arkansas statewide ballot.

Opposition

Opponents

• There was no known opposing campaign for Issue 3.

Arguments

Arguments that were made in opposition to the measure include:

• A new debt would only make the situation in Arkansas worse, due to the revenue shortfalls that were happening in the state.

Media endorsements

See also: Endorsements of Arkansas ballot measures, 2010

Support

• The Times Record endorsed the measure, along with the two other measures on the ballot, writing in an editorial, "We recommend you vote FOR constitutional protections of hunting fish and trapping; FOR changing interest caps and supporting energy efficiency; and FOR creating more flexibility in incentives for new business. All three are votes FOR Arkansas."

Path to the ballot

See also: How the Arkansas Constitution is amended

The amendment was referred to the November 2, 2010 ballot after the Arkansas House of Representatives and the Arkansas State Senate approved of the measure on April 6, 2009. A majority vote was required in both chambers of the Arkansas State Legislature to refer the measure to the ballot. (See Section 22, Article 19, Arkansas Constitution.)

See also

Suggest a link

• Arkansas 2010 ballot measures
• 2010 ballot measures
• List of Arkansas ballot measures
• History of Initiative & Referendum in Arkansas

Additional reading

• Proposed Constitutional Amendments: Issue 3
• Arkansas Ethics Commission
• 2010 ballot issues

External links

• Arkansas Secretary of State