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Basse discusses Amendment A

Along with the local races, voters will be making decisions with regard to state and national races and issues. Brad Basse spoke at Thursday’s candidate forum with regard to Amendment A, which will also be on the ballot in November. Prior to his presentation, moderator Cindy Glasson read the legal jargon associated with the amendment.

Currently, Glasson read, the Wyoming Constitution allows Legislature to authorize investment of employee retirement system funds and permanent state funds in equity – such as stocks or shares in companies. Permanent funds of the State include those designated as permanent funds by the Constitution. The adoption of Amendment A would allow Legislature, by a two-thirds vote of the members of both houses, to authorize investment of additional State funds in equities.

Basse said he had the opportunity to recently attend a meeting where information on the amendment was presented.

“This is a big deal,” Basse said. “You don’t amend constitutions just on a whim.” He asked the people to educate themselves on the amendment before they vote. Another point he stressed is people have to vote; if they do not vote at all to the amendment, it is the same as a “no” vote. The majority of the ballots passed must be for the amendment in order for it to pass.

Basically, Basse explained, there are a lot of funds not considered permanent, that aren’t allowed to be invested in equities. Basse said there is about $19 billion out there that could be potentially earning three times as much as it is now, and recommended checking out http://www.yayfora.com for more information on the amendment.

 

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