Do you want to amend the Missouri Constitution to:
allow the General Assembly to override the current constitutional restrictions of state investments by the state treasurer; and
allow state investments in municipal securities possessing one of the top five highest long term ratings or the highest short term rating?
State governmental entities estimate no costs and increased interest revenue of $2 million per year. Local governmental entities estimate no costs and increased interest revenue of at least $34,000 per year.
Fair Ballot Language:
A "yes" vote will amend the Missouri Constitution to grant the General Assembly statutory authority to invest state funds and also expand the state treasurer's investment options. Currently the Constitution grants the General Assembly no statutory investment authority and limits the treasurer's investment options. This amendment will allow the General Assembly by statute to determine investment avenues for the state treasurer to invest state funds, as well as allow the state treasurer to invest in municipal securities.
A "no" vote will not amend the Missouri Constitution and limit the treasurer to investing state funds only in those investment options currently approved by the Constitution.
If passed, this measure will have no impact on taxes.