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Michigan Proposal 02-2, Investment of Funds and Spending on Outdoor Recreation Amendment (August 2002)
| Michigan Proposal 02-2 | |
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| Election date |
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| Topic Parks, land, and natural area conservation and Restricted-use funds |
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| Status |
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| Type Legislatively referred constitutional amendment |
Origin |
Michigan Proposal 02-2 was on the ballot as a legislatively referred constitutional amendment in Michigan on August 6, 2002. It was approved.
A “yes” vote supported allowing for the investment of certain funds and increase the allowed amount of spending for outdoor recreation. |
A “no” vote opposed allowing for the investment of certain funds and increase the allowed amount of spending for outdoor recreation. |
Election results
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Michigan Proposal 02-2 |
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| Result | Votes | Percentage | ||
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925,475 | 62.05% | ||
| No | 565,971 | 37.95% | ||
Text of measure
Ballot title
The ballot title for Proposal 02-2 was as follows:
| “ | PROPOSAL 02-2 A PROPOSAL TO ALLOW CERTAIN PERMANENT AND ENDOWMENT FUNDS TO BE INVESTED AS PROVIDED BY LAW AND INCREASE ALLOWED SPENDING FOR STATE PARKS, LOCAL PARKS AND OUTDOOR RECREATION The proposed constitutional amendment would: Allow certain permanent and endowment funds, including Natural Resources Trust Fund, State Parks Endowment Fund and Veterans Trust Fund, to be invested as provided by law, eliminating prior restriction on investing in stocks. Increase Natural Resources Trust Fund cap on assets from $400 million to $500 million. Allow the Natural Resources Trust Fund to continue to annually expend up to 33-1/3% of Fund royalties or other revenues, up to a new asset cap of $500 million. Increase allowed State Parks Endowment Fund spending to include interest and earnings and up to 50% of funds received from Natural Resources Trust Fund. Should this proposal be adopted? | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
- See also: Amending the Michigan Constitution
A two-thirds vote is required during one legislative session for the Michigan State Legislature to place a constitutional amendment on the ballot. That amounts to a minimum of 74 votes in the Michigan House of Representatives and 26 votes in the Michigan State Senate, assuming no vacancies. Amendments do not require the governor's signature to be referred to the ballot.
See also
Footnotes
External links
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State of Michigan Lansing (capital) |
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