1.1                          A bill for an act 
  1.2             proposing an amendment to the Minnesota Constitution, 
  1.3             article XI, section 14; extending until the year 2050 
  1.4             the period during which at least 40 percent of the net 
  1.5             proceeds from the state lottery must be credited to 
  1.6             the environment and natural resources trust fund. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  [CONSTITUTIONAL AMENDMENT PROPOSED.] 
  1.9      An amendment to the Minnesota Constitution, article XI, 
  1.10  section 14, is proposed to the people.  If the amendment is 
  1.11  adopted, the section will read as follows: 
  1.12     Sec. 14.  A permanent Minnesota environment and natural 
  1.13  resources trust fund is established in the state treasury.  The 
  1.14  principal of the environment and natural resources trust fund 
  1.15  must be perpetual and inviolate forever, except appropriations 
  1.16  may be made from up to 25 percent of the annual revenues 
  1.17  deposited in the fund until fiscal year 1997 and loans may be 
  1.18  made of up to five percent of the principal of the fund for 
  1.19  water system improvements as provided by law.  This restriction 
  1.20  does not prevent the sale of investments at less than the cost 
  1.21  to the fund, however, all losses not offset by gains shall be 
  1.22  repaid to the fund from the earnings of the fund.  The net 
  1.23  earnings from the fund shall be appropriated in a manner 
  1.24  prescribed by law for the public purpose of protection, 
  1.25  conservation, preservation, and enhancement of the state's air, 
  1.26  water, land, fish, wildlife, and other natural resources.  Not 
  2.1   less than 40 percent of the net proceeds from any state-operated 
  2.2   lottery must be credited to the fund until the year 2001 2050.  
  2.3      Sec. 2.  [SUBMISSION TO VOTERS.] 
  2.4      The proposed amendment must be submitted to the people at 
  2.5   the 1998 general election.  The question submitted shall be: 
  2.6      "Shall the Minnesota Constitution be amended to extend 
  2.7   until the year 2050 the period during which at least 40 percent 
  2.8   of the net proceeds from the state lottery must be credited to 
  2.9   the environment and natural resources trust fund? 
  2.10                                     Yes .......
  2.11                                     No ........"
  2.12     Election procedures shall be as provided by law.