LITTLE ROCK — Arkansas voters will decide the fate of three proposed constitutional amendments Tuesday.
All three were referred by the Legislature.
Issue 1 would provide that Arkansas residents “have a right to hunt, fish, trap and harvest wildlife subject to regulations that promote wildlife conservation and management.”
Sen. Steve Faris, D-Malvern, the amendment’s sponsor, said it would have no effect on Amendment 35, which created the Game and Fish Commission as an independent agency, nor on private property rights.
Faris said he sponsored the legislation to help avert loss of hunting, fishing and trapping rights.
Issue 2 would effect interest limits and issuance of government bonds for energy-efficiency projects.
It would:
• Remove an interest rate cap of 5 percent above the federal discount rate, now 0.75 percent, on consumer loans. It would leave a 17 percent cap in place. Lenders are currently limited to whichever cap is lower.
• Repeal an interest rate cap of 2 percent above the federal discount rate on bonds issued by or loans issued by or to governmental units.
• Allow governmental entities to issue bonds to finance energy-efficiency projects and use savings from the projects to repay the loans.
Issue 2 faces a court challenge on behalf of a Jacksonville resident, April Forrester. The state Supreme Court heard arguments on claims, among other things, that the measure was too complicated for voters to understand in the case, but justices declined to rule and returned it to Pulaski County Circuit Court. Judge Mary McGowan has scheduled a hearing for Monday.
Issue 3 would lower the threshold for issuing state bonds to attract major industries. It would remove limits set in Amendment 82 on the size of economic development projects eligible for support through general obligation bonds. Projects currently must return a $500 million investment and create at least 500 jobs.
The Legislature would set criteria for financing eligibility for economic development projects. The bonds would continue to be paid using general revenue or specific revenues appropriated by the Legislature.
Randy Zook, state Chamber of Commerce/Association of Industries president and CEO, said many companies interested in locating in Arkansas offer less than the $500 million investment or 500 employees and need more assistance than the $50 million in the Governor’s Quick Action Fund.
The Legislature authorized the Quick Action Fund in 2007 to give the governor flexibility to close economic development deals.
The Legislature can refer up to three proposed constitutional changes to each general election ballot.
This year, residents’ groups failed to gather enough signatures to place initiatives on the ballot, including measures that would ban illegal immigrants over age 14 from receiving state services and authorize casinos in seven Arkansas counties.