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Show FT For O Against Q Proposition No. 4 STATE SCHOOL FUND AMENDMENTS Vote cast by the members of the 1984 Legislature on final passage: HOUSE (75 members): Yeas, 51; Nays, 3; Absent or not voting, 21, SENATE (29 members): Yeas, 21; Nays, 7; Absent or not voting, 1. Official Ballot Title: Shall Article X, Section 3, of the State Constitution be amended to modify the revenue sources to the State School Fund to include all revenues from nonrenewable resources from school or state lands; and clarify the funding and administration of the Uniform School Fund, and provide an effective date of July 1, 1987. This shift in funding will Increase Investments of the State School I'und and eventually will provide for Increased Interest payments to the Uniform School Fund. This plan would, however, result in an annual icduclion in funds availble to the Uniform School Fund until Interest earned on the Investments of the State School Fund would be sufficient to replace the revenues currently earned on the nonrenewable resources. This proposed revision will also provide for clarification of the administration of the State School Fund and the Uniform School Fund. 'H" vv'' ' v h - ;- ' ik ' ' " . 23 Effective Date The amendment, if approved by the voters, would become effective July 1, 1987. Fiscal EfTect Because the revision Is not effective untilJuly 1, 1987 there would be no immediate fiscal effect for the next two fiscal years. However, when Implemented in 1987 there will be an Initial loss of revenue on nonrenewable resources to the Uniform School Fund. However, this will be offset by a long term Increase in Interest revenue from investments in the State School Fund. r t ' ' , ' '. ' ) ' ' -it ' . Ht . -.' (-, ,, . . i .: -- J? |
