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Oklahoma State Question 725, Rainy Day Fund Amendment (2006)
| Oklahoma State Question 725 | |
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| Election date |
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| Topic Budget stabilization funds |
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| Status |
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| Type Legislatively referred constitutional amendment |
Origin |
Oklahoma State Question 725 was on the ballot as a legislatively referred constitutional amendment in Oklahoma on November 7, 2006. It was approved.
A "yes" vote supported allowing limited spending from the Rainy Day Fund, with unanimous approval from the Governor and legislative leaders, to retain jobs by assisting at-risk manufacturers investing in Oklahoma |
A "no" vote opposed allowing limited spending from the Rainy Day Fund, with unanimous approval from the Governor and legislative leaders, to retain jobs by assisting at-risk manufacturers investing in Oklahoma. |
Election results
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Oklahoma State Question 725 |
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| Result | Votes | Percentage | ||
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464,664 | 53.58% | ||
| No | 402,577 | 46.42% | ||
Text of measure
Ballot title
The ballot title for State Question 725 was as follows:
| “ | This measure amends the State Constitution. It amends Section 23 of Article 10. The measure deals with the Constitutional Reserve Fund also known as the Rainy Day Fund. The measure allows money to be spent from the Rainy Day Fund. The purpose of the authorized spending is to retain employment for state residents by helping at-risk manufacturers. Payments from the Fund would be used to encourage such manufacturers to make investments in Oklahoma. All such payments from the Fund must be unanimously approved by three State officers. Those officers are the Governor and the head of the Senate and House of Representatives. Those officers could only approve payments recommended by an independent committee. Such spending is allowed in years when there is Eighty Million Dollars or more in the Fund and other conditions are met. Such spending is limited to Ten Million Dollars a year. The help given to a manufacturer is limited to ten percent of its in-State capital investments. The Legislature could make laws to carry out the amendment. | ” |
Path to the ballot
- See also: Amending the Oklahoma Constitution
A simple majority vote is required during one legislative session for the Oklahoma State Legislature to place a constitutional amendment on the ballot. That amounts to a minimum of 51 votes in the Oklahoma House of Representatives and 24 votes in the Oklahoma State Senate, assuming no vacancies. Amendments do not require the governor's signature to be referred to the ballot.
See also
External links
Footnotes
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State of Oklahoma Oklahoma City (capital) |
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