Nevada Question 1 (2000)
From Ballotpedia
Nevada Question 1 was on the November 7, 2000 election ballot in Nevada. It was defeated, with 41% of voters in favor.
Text of the proposal
The language that appeared on the ballot:
Legislative Constitutional Amendment
The Nevada Constitution currently prohibits the State from investing its money in any company, association, or corporation, except for corporations formed for educational or charitable purposes. The proposed amendment would enable the Legislature to authorize the prudently managed investment of State money subject to the following conditions:
1. That the investment is for the economic diversification or development of Nevada or for the creation of new high-quality employment opportunities in Nevada;
2. That the State can expect a reasonable rate of return on the investment, adjusted for the relative degree of risk;
3. That any legislation authorizing such an investment must be approved by a two-thirds vote of each house of the Nevada Legislature and also by the Governor;
4. That the state’s participation must be made in cooperation with knowledgeable private investors on terms that are the same as or more favorable than those of the private investors; and
5. That revenue received from these investments may be reinvested under the same conditions.
