Louisiana Retirement Fund Investment (2008)

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The Louisiana Retirement Fund Investment, or Louisiana Proposed Amendment 7, was on the November 2008 ballot in Louisiana, where it was defeated. The state legislature authorized Amendment 7 to go on the ballot with its House Bill 584. The measure would have amended the Louisiana Constitution to authorize the investment in equities of monies of the state and a political subdivision, which have been reserved to provide for post-employment benefits other than pensions.[1]

Amendment 7 was a legislatively-referred constitutional amendment.

Election results

Louisiana Retirement Fund Investment:
Votes Percentage
Yes 670,756 44%
NO 841,927 56%
Total votes 1,512,683 100%

Results according to the Louisiana Secretary of State.[2]

Background

Currently, the Louisiana Constitution prohibits the loan, pledge, or donation of any funds, credit, property, or things of value of the state or of any political subdivision unless specifically excepted. This amendment would provide an exception to this prohibition.[3]

Specific Provisions

If the measure had passed, it would have:

  • Amended the Louisiana Constitution to authorize the investment in equities of monies of the state and a political subdivision, which have been reserved to provide for post-employment benefits other than pensions.[4]
  • In essence, this would have provided a raise in compensation for public officials.

Supporters

Supporters included:

See also

References

  1. ↑ Louisiana Secretary of State
  2. ↑ Louisiana SOS, Election 2008 results
  3. ↑ 3.0 3.1 Louisiana State Senate: "Session Information"
  4. ↑ Louisiana Secretary of State
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