HJR 0002 Summary

• Proposes a constitutional amendment to establish the Permanent Fund in the state treasury as a new Section 9 of Article 10 of the Indiana Constitution.

• Fund sources include: 50% (or greater percentage set by law) of any general fund budget surplus at the end of each fiscal year, appropriations made to the fund, and other sources designated by law.

• Investment income from the Permanent Fund shall be deposited into the State General Fund, except as otherwise provided by law.

• Principal of the Permanent Fund may only be used for income-producing investments specifically designated by law as eligible.

• Amendment requires approval by two consecutive general assemblies and ratification by a majority of Indiana voters to take effect.