Louisiana legislature put two amendments to vote in November 2022 last week.
Louisiana Increase In Maximum Amount In Stocks For Certain SWF Change (2022)
This change would increase the proportion of money in certain sovereign wealth funds that could be invested in stocks (stocks) from 35% to 65%. The increase would relate to the following funds:
- Educational Quality Trust Fund in Louisiana;
- Artificial Reef Development Fund;
- Endowment Fund for Lifetime Licenses;
- Rockefeller Wildlife Refuge Trust and Protection Fund; and
- Russell Sage or Marsh Island Refuge Fund.
The change would also remove a provision in the Constitution that restricts the ability of lawmakers to increase the amount of money in the Millennium Trust that can be invested in stocks and instead allows lawmakers to provide for investment under common law.
Legislators passed House Bill 154 on June 2, 36-0 in the Senate and 100-0 in the House of Representatives. In Louisiana, a two-thirds majority is required in every chamber of the Louisiana state legislature to put an amendment to the vote.
Louisiana Creation of the State and Local Streamlined Sales and Use Tax Commission Amendment (2022)
This change would create the state and local streamlined sales and use tax commission. The commission would consist of eight members. The purpose of the Commission would be to streamline the electronic filing and transfer of all sales and use taxes. It would also be responsible for promulgating regulations on all sales and use taxes levied by a state tax authority. The administration of the commission would be funded by sales and use tax revenues. The change would require a two-thirds majority (66.67 percent) of the state legislatures to legislate on the functions and funding of the commission. The commission would replace the Louisiana Distance Sales and Use Tax Commission and the Louisiana Uniform Local Sales Tax Board after one year, with all employees moving to the new commission.
This change was introduced as House Bill 199 (HB 199) on March 26, 2021. On April 21, 2021 the House passed HB 199 by 97 votes to 4 with three absent. The Senate passed the bill unanimously with amendments on May 12, 2021. The House of Representatives rejected the Senate’s changes and a conference committee was convened. Both houses unanimously passed the legislative version of the conference committee on June 3, 2021.
Possible election actions in Louisiana in 2021 and 2022
There are eight other constitutional amendments for the 2022 ballot and three changes for the 2021 ballot that have been passed by a chamber of the Louisiana Legislature. They would appear on the nationwide ballot when passed in the second chamber.
Louisiana Historic Ballot Statistics
From 2000 to 2020, a total of 132 constitutional amendments were voted on nationwide in Louisiana. A total of 96 amendments appeared on the ballot paper in the even years and 36 amendments appeared on the ballot paper in the odd years. The average number of amendments appearing on the nationwide ballot was 10 in even years and 4 in odd years. Voters approved 71.88% (69 out of 96) and rejected 28.13% (27 out of 96) of the changes in even years. Voters approved 69.44% (25 out of 36) and disapproved 30.56% (11 out of 36) of the changes in odd years.