Constitutional amendment to revise investment restrictions of coal trust fund

This bill proposes a constitutional amendment to allow up to 25 percent of the Montana Coal Severance Tax Trust Fund to be invested in private corporate stock, changing the current restriction that limits public fund investments to government bonds and safe fixed-income securities. The amendment would apply specifically to the coal severance tax trust fund while leaving other public funds, including the public school fund and university system, subject to existing conservative investment rules. If passed by a two-thirds legislative vote and approved by Montana voters in the November 2026 general election, the change would expand investment options for this specific trust fund to include private equity alongside traditional government securities.