Constitutional Amendment A Approved By Wyoming Voters
CHEYENNE, Wyo. (AP) — Wyoming voters have given state leaders the green light to put more tax dollars into the stock market.
Voters approved a ballot measure Tuesday to change the Wyoming Constitution to allow the investment of billions more in stocks.
Wyoming has about $20 billion in various funds. Tuesday's vote means that roughly $6 billion of that total which previously could only be invested in bonds may now be used at least partially for stocks.
State Treasurer Mark Gordon has said the measure was needed because the state's faltering energy economy combined with low yields in the bond market made it important to have the flexibility to diversify investments.
Opponents of the change say they fear increasing risk for the state's portfolio.