Little Rock businessman Jackson T. Stephens Jr. contributed $150,000 to the U.S. Term Limits ballot question committee that's opposing Issue 3. That's the proposed constitutional amendment to extend term limits for lawmakers and ban lobbyists from giving certain gifts to state elected officials, the committee reported this week.
Stephens is the son of the late Jack Stephens Sr., who helped build the Little Rock investment group Stephens Inc.
The Palm Beach, Fla.-based U.S. Term Limits committee reported receiving $560,000 in contributions and spending $544,883 through Oct. 24 to defeat the measure on Nov. 4. That left $15,117 in the bank as of Oct. 24.
Earlier this month, the U.S. Term Limits committee reported receiving $350,000 from the group's chairman and real estate investor Howard Rich of Philadelphia, and $60,000 from U.S. Term Limits, a 501(c)(4) nonprofit group, late last month. The committee has reported spending on television advertising and direct mail opposing Issue 3.
Another committee opposing Issue 3 -- Arkansas Term Limits -- reported this week that the widow of late Lt. Gov. Win Rockefeller, Lisenne D. Rockefeller of Little Rock, contributed $20,000. It reported receiving contributions of $41,842 and spending $30,556, leaving $11,286 in the bank as of Monday.
Among other things, Issue 3 would increase the length of time that lawmakers would be allowed to serve to a maximum of 16 years in the state House of Representatives, the state Senate or a combination of terms in both. Lawmakers are currently limited to six years in the House and eight years in the Senate. Some senators are able to serve 10 years, if they draw a two-year term after winning in the election after once-per-decade redistricting.
Metro on 10/31/2014