Constitutional amendment to change investment restrictions for coal trust

2025 Regular Session

Proposes a constitutional amendment to change how the coal trust principal is invested, altering investment restrictions governing the coal tax fund.

(LC) Draft Died in Process

#constitutionalamendmentproposals #taxation--coal(seealso:appropriations #coaltaxfundprincipal)

Summary of LC 1867 — Constitutional amendment to change investment restrictions for coal trust

Overview
- Bill number: LC 1867
- Title: Constitutional amendment to change investment restrictions for coal trust
- Status: Draft died in process (LC); latest actions show the draft died in process (2025-05-27). Earlier, it was on hold (2024-12-11) and the drafter was assigned (2024-11-22).
- Introduced: November 22, 2024
- Classification: bill
- Subject: Constitutional Amendment Proposals, Taxation—Coal (also related to Appropriations, Coal Tax Fund Principal)

What the bill would do (as indicated by title and subject)
- The bill proposes a constitutional amendment to change the investment restrictions governing the coal trust.
- Specific text, details of the proposed changes, and the exact scope of the investment restrictions are not provided in the summary. The intended effect, as inferred from the title, is to alter how the coal trust’s principal may be invested.

Key provisions and changes (note on text availability)
- Because the actual bill language is not included in the provided information, the precise provisions, thresholds, permitted or restricted asset classes, risk parameters, or oversight mechanisms cannot be enumerated here.
- As a constitutional amendment, any changes would ultimately require voter ratification in addition to legislative action to become law (typical for constitutional amendments, depending on the state’s process).

Who would be affected
- The Coal Tax Fund Principal and its managing entities (e.g., state investment boards or trustees) that oversee the coal trust.
- Public programs or appropriations funded by the coal tax, if investment performance of the coal trust principal influences revenue streams.
- Taxpayers and coal-related stakeholders who may be affected by changes in the fund’s investment performance and related fiscal outcomes.

Procedural and timeline notes
- Introduction: November 22, 2024
- Drafter assigned: November 22, 2024
- Status updates:
- On Hold: December 11, 2024
- Draft Died in Process: May 27, 2025
- Implication: The draft did not advance through the legislative process and has not become law or a ballot measure at this time. As a constitutional amendment, subsequent action would require renewed legislative consideration and voter approval if pursued in the future.

Context and related references
- See also: Appropriations, Coal Tax Fund Principal
- This bill is categorized under Constitutional Amendment Proposals and Taxation—Coal, indicating a fiscal governance focus on the coal tax framework and its long-term investment strategy.

Notes for readers
- Detailed analysis of impacts requires the bill’s full text to identify exact changes to investment restrictions, allowed instruments, funding implications, and transitional provisions. Current information confirms only the bill’s intent to alter coal trust investment rules and its status as an unadvanced draft.