Nebraska Amendment 2, Political Subdivision Investment of Public Endowment Measure (2006)
| Nebraska Amendment 2 | |
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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 |
Nebraska Amendment 2 was on the ballot as a legislatively referred constitutional amendment in Nebraska on November 7, 2006. It was defeated.
A "yes" vote supported amending the state constitution to authorize the investment of public endowment funds in such manner as the governing body of political subdivisions determined. |
A "no" vote opposed amending the state constitution to authorize the investment of public endowment funds in such manner as the governing body of political subdivisions determined. |
Election results
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Nebraska Amendment 2 |
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| Result | Votes | Percentage | ||
| Yes | 221,499 | 43.10% | ||
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292,456 | 56.90% | ||
Text of measure
Ballot title
The ballot title for Amendment 2 was as follows:
| “ | A constitutional amendment to authorize the investment of the public endowment funds of cities, villages, school districts, public power districts, and other political subdivisions in such manner and in such investments as the governing body of such political subdivision may determine, subject to limitations by the Legislature. [ ] For [ ] Against | ” |
Ballot summary
The ballot summary for this measure was:
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A vote FOR this amendment will authorize the Legislature to permit political subdivisions to invest public endowment funds in the same manner as would a prudent investor acting with skill, care, and diligence and in such investments that the political subdivision, acting in a fiduciary capacity for the exclusive purpose of protecting and benefiting such investment, may determine, subject to limitations as the Legislature may provide. A vote AGAINST this amendment will retain the existing, more limiting restrictions on a political subdivision’s ability to invest public endowment funds. | ” |
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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State of Nebraska Lincoln (capital) |
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