Oregon Measure 2, Common School Fund Investments and Revenues Amendment (1988)
| Oregon Measure 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 |
Oregon Measure 2 was on the ballot as a legislatively referred constitutional amendment in Oregon on November 8, 1988. It was approved.
A "yes" vote supported allowing investment of the Common School Fund in corporate stocks and authorizing the State Land Board to allocate revenues from these investments to manage state lands. |
A "no" vote opposed allowing investment of the Common School Fund in corporate stocks and authorizing the State Land Board to allocate revenues from these investments to manage state lands. |
Election results
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Oregon Measure 2 |
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| Result | Votes | Percentage | ||
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621,894 | 54.91% | ||
| No | 510,694 | 45.09% | ||
Text of measure
Ballot title
The ballot title for Measure 2 was as follows:
| “ | COMMON SCHOOL FUND INVESTMENTS; USING INCOME FOR STATE LANDS MANAGEMENT QUESTION - Shall Oregon Constitution allow Common School Fund investment in stocks, and payment of state lands management expenses from investment income? EXPLANATION - Constitutional amendment referred by legislature. Allows state to invest Common School Fund moneys in corporate stocks. Allows State Land Board to apply, as it considers appropriate, income from Common School Fund investments to expenses of managing state lands. Requires that remainder of Common School Fund investment income be applied to supporting primary and secondary education as "prescribed by law." Constitution now bans such stock investment and requires use of all investment income for education support. ESTIMATE OF FINANCIAL EFFECT - In the short run, there will be a slight decrease or leveling off of Common School Fund income being distributed to schools. In the long run, there will be significant gain in income being distributed to schools. It is estimated that by the end of 12 years, the principal of the Common School Fund would grow by over 77% and the distribution to schools would grow by over 16%. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
- See also: Amending the Oregon Constitution
A simple majority vote is required during one legislative session for the Oregon State Legislature to place a constitutional amendment on the ballot. That amounts to a minimum of 31 votes in the Oregon House of Representatives and 16 votes in the Oregon 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 Oregon Salem (capital) |
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