Amendment 7

Official Ballot Title Amendment 7

Official Ballot Title: Shall the Missouri Constitution be amended to establish a permanent public endowment fund to support state government instead of taxing Missouri residents, prohibit the General Assembly from appropriating or diverting the fund, and eliminate state-imposed taxes once the fund generates sufficient revenue to replace them?

State and local governmental entities estimate no costs or savings.

Fair Ballot Language:

A "yes" vote will amend the Missouri Constitution to establish the "Show-Me Prosperity Fund," a permanent public endowment fund to support state government with the goal of eliminating state-imposed taxes without impairing the real value of the fund's principal; prohibit the General Assembly from appropriating or diverting monies from the fund until notification is given by the State Treasurer that the net investment earnings of the fund are sufficient to eliminate state-imposed taxes; cap the total amount of moneys that may be appropriated from the fund in a fiscal year to three percent of the average market value of the fund over the preceding five fiscal years; and prohibit the General Assembly from enacting the eliminated state-imposed taxes, provided, however, that in the event the fund is unable to meet its obligations due to insolvency, revenue shortfall, or program failure, the General Assembly shall retain full authority to appropriate funds from any lawful source and to enact legislation establishing or increasing taxes or other revenues as necessary.

A "no" vote will not amend the Missouri Constitution to establish a permanent public endowment fund to support state government with the goal of eliminating state-imposed taxes.

If passed, this measure will have no immediate impact on taxes but could lead to the elimination of state-imposed taxes if the net investment earnings of the fund become sufficient to support that outcome.

What it says