SJR 95 - This constitutional amendment, if approved by voters, establishes the "Show-Me Prosperity Fund" for the purpose of eliminating state taxes and securing this state's long-term financial independence. The fund shall consist of money appropriated to it by the General Assembly, and may also receive gifts, donations, grants, and bequests from any source. The State Treasurer shall invest the fund in exchange-traded funds tracking the performance of the Standard & Poor's 500, or a comparable successor index to be determined by law. No money shall be appropriated from the fund until January 1, 2127, until the fund reaches $2 trillion, or until the State Treasurer notifies the General Assembly that the balance in the fund is sufficient to eliminate state taxes, whichever occurs first, at which time the fund shall be invested in the manner specified in the Constitution for other funds, with preference given to certain investments bearing at least 3% interest annually, and the interest from the fund shall be used to eliminate or reduce state taxes as provided in the amendment.
The State Treasurer may reinvest a portion of the annual interest generated by the fund once all state-imposed taxes have been eliminated. Upon the elimination or reduction of any tax as provided in the amendment, no such tax shall thereafter be enacted or be increased beyond the rate as reduced pursuant to the amendment.
JOSH NORBERG