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West Virginia Future Fund Amendment (2016)
| West Virginia Future Fund Amendment | |
|---|---|
 | |
| Election date November 8, 2016 | |
| Topic State and local government budgets, spending and finance | |
| Status Not on the ballot | |
| Type Constitutional amendment | Origin State legislature |
The West Virginia Future Fund Amendment was not put on the November 8, 2016, ballot in West Virginia as a legislatively referred constitutional amendment. The measure, upon voter approval, was designed to establish a “West Virginia Future Fund” for the state to accumulate interest revenues to be spent on education, workforce development, economic development and diversification, infrastructure and tax relief. The fund could have been tapped for revenues six years after the fund's implementation.[1]
Text of measure
Ballot title
The proposed ballot title was:[1]
| “ | Future Fund Amendment[2] | ” |
Ballot summary
The proposed ballot summary was:[1]
| “ | The purpose of this amendment is to protect the principal of the West Virginia Future Fund and to specify how the investment income from the fund may be spent. The principal of the West Virginia Future Fund, as created by general law, may not be spent, appropriated or encumbered. Investment income of the West Virginia Future Fund may be spent, appropriated or encumbered after a term of six years following the statutory creation of the West Virginia Future Fund. Investment income of the West Virginia Future Fund may be spent, appropriated, or encumbered solely for enhancing education and workforce development; economic development and diversification; infrastructure improvements; and tax relief measures for the benefit of the citizens and businesses of the State of West Virginia in a manner and subject to conditions, definitions, qualifications and requirements as prescribed by general law.[2] | ” |
Constitutional changes
- See also: Article X, West Virginia Constitution
The amendment was designed to add a Section 12 to Article X of the Constitution of West Virginia. The following text would have been added by the proposed amendment's approval:[3]
12. FUTURE FUND.
|
Path to the ballot
- See also: Amending the West Virginia Constitution
The amendment needed to be approved by a two-thirds (66.67%) vote in both chambers of the West Virginia Legislature in order to appear on a ballot.
The West Virginia Legislature's 2015 session ended on March 15, 2015, without the bill passing both chambers. Legislators had the opportunity to reintroduce the bill during the 2016 legislative session, which was projected to begin on January 13, 2016, and run through March 12, 2016.
Related measures
See also
External links
Footnotes
- ↑ 1.0 1.1 1.2 West Virginia Legislature, "Senate Joint Resolution 2," accessed February 25, 2015
- ↑ 2.0 2.1 Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
- ↑ Cite error: Invalid
<ref>tag; no text was provided for refs namedtext
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State of West Virginia Charleston (capital) |
|---|---|
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