Vox

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AZ Proposition 118 (2012)

Posted on | October 23, 2012 | No Comments

Prop 118: Changes the distribution formula for the state land trust permanent endowment fund, which funds various public institutions, including schools, to be 2.5% of the average monthly market values of the fund for the immediately preceding five calendar years.

Because of flaws in the current system used for distribution of state trust funds, the funds available vary wildly from year to year. In fact, some years calculations have resulted in zero dollars being distributed. Proposition 118 attempts to remedy that problem with a more consistent formula.

This seems like a common sense plan with wide-spread support and virtually no opposition.

  • A “yes” vote shall have the effect of changing the distribution formula for the State Land Trust Permanent Endowment Fund, which funds various public institutions, including schools, to be 2.5% of the average monthly market values of the Fund for the immediately preceding five calendar years. The change would affect fiscal years 2013 through 2021.
  • A “no” vote shall have the effect of keeping current constitutional law related to the distribution formula of the State Land Trust Permanent Endowment Fund.

Going with YES on this one.



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Category: AZ, Law, politics
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