South Dakota Education Funds Investments Amendment (1996)
From Ballotpedia
South Dakota Amendment A was also known as An amendment to Article VIII, section 11 of the Constitution of the State of South Dakota, relating to the investment of permanent education funds. It was on the 1996 election ballot in South Dakota. It passed with 191,771 votes in favor.
Text of the proposal
The Commissioner of School and Public Lands currently invests the permanent school and other education funds. These funds may be invested only in U.S. bonds, securities guaranteed by the U.S., or bonds issued by the State or its schools, counties or municipalities.
The proposed constitutional amendment would transfer school fund investment responsibility to the State Investment Council, which presently invests other state funds. The amendment would allow the school funds to be invested the same as other state funds. The amendment would broaden the types of investments which could be made with school funds, but would still prohibit the investment of school funds in stocks or other equity investments.
A vote "yes" would transfer investment responsibility to the Investment Council, thus broadening the types of investments which could be made with school funds.
A vote "no" would leave the Constitution as it is.
Supporters
None yet identified.
Opposition
None yet identified.
