Constitution, Art. IX, §24 is enacted to read:

Section 24.__Reserve fund.__A reserve fund for the General Fund is established.__Funds in the reserve fund may not exceed 10% of the total General Fund revenues received in the immediately preceding state fiscal year and may be expended only for the following purposes: to offset General Fund revenue shortfalls in state fiscal years in which actual revenues fall short or are projected to fall short of the accepted General Fund revenue estimates;__for prepayment of outstanding General Fund bonds; for prepayment of any unfunded liabilities of the Maine State Retirement System, or any successor agency, related to retirement benefits for state government employees or teachers; or for major construction.__For purposes of this section, "major construction" is defined as being any single project with a total cost exceeding $1,000,000.__When actual General Fund revenues at the end of any state fiscal year exceed the accepted General Fund revenue estimates, 75% of the excess revenues must be placed in the reserve fund.__Funds may be expended from this fund only upon approval by 2/3 of both Houses of the Legislature.

; and be it further

Constitutional referendum procedure; form of question; effective date. Resolved: That the municipal officers of this State shall notify the inhabitants of their respective cities, towns and plantations to meet, in the manner prescribed by law for holding a statewide election, at a statewide election, on the Tuesday following the first Monday of November following the passage of this resolution, to vote upon the ratification of the amendment proposed in this resolution by voting upon the following question:

"Do you favor amending the Constitution of Maine to require the Legislature to adopt a mechanism to create a reserve fund?"

The legal voters of each city, town and plantation shall vote by ballot on this question and designate their choice by a cross or check mark placed within the corresponding square below the word "Yes" or "No." The ballots must be received, sorted, counted and declared in open ward, town and plantation meetings and returns made to the Secretary of State in the same manner as votes for members of the Legislature. The Governor shall review