Senate Joint Resolution (SJR) 95 is a legislatively referred Missouri constitutional amendment on the Nov. 3 ballot. On July 2, the Secretary of State’s office noted it as Amendment 7.
It creates the “Show-Me Prosperity Fund,” a permanent, state-managed endowment fund. The fund will grow through state investments and bequests with the goal of ultimately replacing, reducing, and eliminating state-imposed taxes.
The amendment was sponsored in the 2026 legislative session by Sen. Adam Schnelting (R-St. Charles) and was handled in the House by Rep. Colin Wellenkamp (R-St. Charles).
Key Details of Amendment 7:
Fund Creation: It amends Article IV of the Missouri Constitution to establish a sovereign wealth fund.
The Goal: To generate enough investment revenue eventually to entirely replace all state-imposed taxes.
Investing the Fund: The State Treasurer shall invest the fund in exchange-traded funds tracking the stock performance of the Standard and Poor’s 500, a manner consistent with fiduciary standards applicable to public trust funds.
Use of Earnings: Once the fund’s earnings are large enough, the General Assembly can use them to replace state taxes, issue dividend payments to state residents, or replace lost federal funding. The total amount of money that may be appropriated from the fund in a fiscal year shall not exceed three percent of the average market value of the fund over the preceding five fiscal years.
Asset Protection: The principal balance of the fund cannot be spent or borrowed against.
Oversight: The State Auditor is required to audit the fund at least once every three fiscal years to ensure it follows constitutional rules.
The official ballot title for Amendment 7 is:
Shall the Missouri Constitution be amended to establish a permanent public endowment fund to support state government instead of taxing Missouri residents, prohibit the General Assembly from appropriating or diverting the fund, and eliminate state-imposed taxes once the fund generates sufficient revenue to replace them? State and local governmental entities estimate no costs or savings.
Earlier in the legislative session, Sen. Schnelting had said, “I want to reimagine how we fund government. As it pertains to state taxation, I want to move the government from the ‘taker’ column and put it in the ‘caretaker’ column.”
“My hope is that in, say, 100 years from now, or 125 years from now, Missouri doesn’t tax its citizens whatsoever — at all,” he said. “All taxes, whether of income, corporate income, sales and use, the state portion of the personal property tax or the real estate tax, all of them will be gone. That’s the goal.”
If approved, the fund’s performance will be publicly accessible online, and if the fund becomes insolvent or faces revenue shortfalls, the General Assembly retains the authority to enact taxes to ensure state programs continue. Upon the elimination of all specified taxes, the fund’s earnings could also be used to replace federal funds or issue dividends to state residents.