North Carolina Public Improvement Financing Amendment (2004)
| North Carolina Public Improvement Financing Amendment | |
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| Election date |
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| Topic Economic development and State and local government budgets, spending, and finance |
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| Status |
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| Type Legislatively referred constitutional amendment |
Origin |
North Carolina Public Improvement Financing Amendment was on the ballot as a legislatively referred constitutional amendment in North Carolina on November 2, 2004. It was approved.
A "yes" vote supported allowing cities and counties to incur debt in order to partially finance economic development projects. |
A "no" vote opposed allowing cities and counties to incur debt in order to partially finance economic development projects. |
Election results
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North Carolina Public Improvement Financing Amendment |
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| Result | Votes | Percentage | ||
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1,504,391 | 51.28% | ||
| No | 1,429,179 | 48.72% | ||
Text of measure
Ballot title
The ballot title for Public Improvement Financing Amendment was as follows:
| “ | [ ] FOR [ ] AGAINST Constitutional amendment to promote local economic and community development projects by (i) permitting the General Assembly to enact general laws giving counties, cities, and towns the power to finance public improvements associated with qualified private economic and community improvements within development districts, as long as the financing is secured by the additional tax revenues resulting from the enhanced property value within the development district and is not secured by a pledge of the local government's faith and credit or general taxing authority, which financing is not subject to a referendum; and (ii) permitting the owners of property in the development district to agree to a minimum tax value for their property, which is binding on future owners as long as the development district is in existence. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
The North Carolina State Legislature can refer statewide ballot measures, in the form of constitutional amendments and bond issues, to the ballot for statewide elections.
North Carolina requires a 60% vote in each legislative chamber during a single legislative session to refer a constitutional amendment to the ballot. That amounts to a minimum of 72 votes in the North Carolina House of Representatives and 30 votes in the North Carolina Senate, assuming no vacancies. Amendments do not require the governor's signature to be referred to the ballot.
Statutes, including bond issues, require a simple majority vote in each legislative chamber during one legislative session and the governor's signature to appear on the ballot.
See also
External links
Footnotes
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State of North Carolina Raleigh (capital) |
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