Louisiana votes to create a natural resource fund

The US state of Louisiana will be voting on a number of proposed Constitutional amendments on Nov 8. Proposed amendment #5 is for the establishment of a Revenue Stabilization Trust Fund, essentially a Permanent Fund to deal with the volatility of inflows from oil & gas. Of course, if government accounting were to treat money from minerals as capital, not revenue, this problem would largely go away. Will Louisiana be the 8th state in the US to create a natural resource fund?

photo credit: WherezJeff Pedro Gold Dredge, Chicken, Alaska via photopin (license)

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