Amendment L would appear to be a bit of administrative minutia. It brings up the amount of an annual transfer of funds from the trust fund which was established by the sale of the state-owned cement plant to the general fund for the state.
One indication that this particular item is of little import is that I don’t believe anyone is against it. At least, I’ve not seen any righteous diatribes appearing in the letters section of any South Dakota newspapers, nor have I seen anyone burning up electrons within the South Dakota political blogosphere on the topic.
The adjustment of the disbursement amount (which is the core of the amendment) would seem to be a change which is driven by the downturn in the markets. On the face of it, reducing the annual amount which is transferred from the trust fund to the general fund would seem to be an approach designed to keep the trust fund from disappearing.
Now, I do not know why it was necessary to set up a trust fund to begin with–and why the law pertaining to it must be included in the state constitution–but that is all history.
As a conservative, I see the value in preserving the fund through this particularly difficult economic time.
Vote “Yes” on Amendment L.