Constitutional Amendment 7: Permanent Endowment Fund to Eliminate State Taxes
Source: ky3.com
What does this measure do?
Missouri would create a permanent state investment fund, invested in S&P 500 index funds, using money lawmakers choose to deposit plus gifts. Your taxes would not change now; taxes could end only if the fund's yearly earnings someday replaced all state tax revenue.
Read the official ballot measure (PDF)
Proposed by: Missouri General Assembly (Senate Joint Resolution 95, Sen. Adam Schnelting)
Sen. Schnelting is a Republican. The Senate passed it 22-7 and the House 85-56; all yes votes came from Republicans.
Source: news.ballotpedia.org
A YES vote means
The state would create and begin funding the investment account. Taxes could end later only if its earnings become large enough.
A NO vote means
The state would not create this investment fund. Current taxes and lawmakers’ existing budget authority would remain.
No financial records found for this ballot measure.
Source: senate.mo.gov
Sources: sos.mo.gov · kceb.org