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After months of campaigning and organizing voter education efforts, Proposal 2-a quiet little ballot question with big changes to the financing structure of the Michigan Natural Resources Trust Fund-passed by a comfortable 62-38% margin in the August 6th primary. The proposal, called one of the most important environmental ballot initiatives in 50 years, was supported by the Funds for the Future Coalition, a diverse group including the Michigan Environmental Council, the Michigan Chamber of Commerce, the Michigan Recreation and Parks Association, the Nature Conservancy, and the Michigan Oil and Gas Association, who all worked to garner endorsements from every major state newspaper and raise money to make 150,000 phone calls the day before the primary With this passage, the ability of the Trust Fund to protect land resources and recreation opportunities will be expanded based on the way the money is managed. The proposal raises the cap of the Trust Fund from $400 to $500 million, allows the State Treasurer to invest 70 percent of the money in stocks (the funds were previously limited to low-return government securities), and allows up to one-third of the Trust Fund revenue to be spent annually. Proposal 2 also allows half the money that goes into the State Park endowment fund every year to be spent on state park improvements, and provides for further investment of the Non-game Fish and Wildlife Trust Fund, Game and Fish Trust Fund, Civilian Conservation Corps Endowment Fund, and the Michigan Veterans Fund. Supporters estimate that the passage will provide the Natural Resources Trust Fund more than $500 million more dollars for land protection and recreation over the next 20 years. The Natural
Resources Trust Fund was established 25 years ago and is supported
by royalties on oil and natural gas leases. It is distributed
based on grant applications to various land protection and
recreation projects around the state. - 30 - |
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