Nebraska Amendment 2, Depositors Guaranty Fund Amendment (1930)
| Nebraska Amendment 2 | |
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| Topic State and local government budgets, spending, and finance and State legislatures measures |
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| Status |
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| Type Legislatively referred constitutional amendment |
Origin |
Nebraska Amendment 2 was on the ballot as a legislatively referred constitutional amendment in Nebraska on November 4, 1930. It was defeated.
A "yes" vote supported allowing the state to use up to $8 million in treasury funds to pay any deficit of the Depositors Guaranty Fund and to stabilize the banking system. |
A "no" vote opposed allowing the state to use up to $8 million in treasury funds to pay any deficit of the Depositors Guaranty Fund and to stabilize the banking system. |
Election results
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Nebraska Amendment 2 |
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| Result | Votes | Percentage | ||
| Yes | 120,554 | 45.42% | ||
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144,882 | 54.58% | ||
Text of measure
Ballot title
The ballot title for Amendment 2 was as follows:
| “ | "FOR amending Section 3 of Article XIII of the Constitution of Nebraska to read as follows: "Section 3. The credit of the state shall never be given or loaned in aid of any individual, association, corporation. The state legislature, however, in order to help pay any deficit in the Depositors Guaranty Fund and to discharge the obligations thereof to depositors in banks closed by the Department of Trade and Commerce prior to December 31, 1931, may appropriate out of any money in the State Treasury not otherwise appropriated the sum of eight million dollars or as much thereof as may be deemed necessary, and such appropriation shall be deemed to be for a public purpose, namely, to relieve distress and prevent suffering and to stabilize and strengthen the state banking system." "AGAINST amending Section 3 of Article XIII of the Constitution of Nebraska to read as follows: "Section 3. The credit of the state shall never be given or loaned in aid of any individual, association, or corporation. The state legislature, however, in order to help pay any deficit in the Depositors Guaranty Fund and to discharge the obligations thereof to depositors in banks closed by the Department of Trade and Commerce prior to December 31, 1931, may appropriate out of any money in the State Treasury not otherwise appropriated the sum of eight million dollars or as much thereof as may be deemed necessary, and such appropriation shall be deemed to be for a public purpose, namely, to relieve distress and prevent suffering and to stabilize and strengthen the state banking system." | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
- See also: Amending the Nebraska Constitution
A 60% supermajority vote is required during one legislative session for the Nebraska State Legislature to place a constitutional amendment on the ballot. That amounts to a minimum of 30 votes in the unicameral legislature, assuming no vacancies. Amendments do not require the governor's signature to be referred to the ballot. A simple majority vote is required for voter approval. However, the number of affirmative votes cast for the measure must be greater than 35% of the total votes cast in the election. This also applies to citizen initiatives.
See also
External links
Footnotes
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