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Most city and county bonds require voter approval in California, needing the support of at least two-thirds of voters to pass. [3] This requirement was put in place by Proposition 13 which was passed in 1978 and reduced property taxes. [4] In 2000, Proposition 39 reduced the supermajority to 55% to approve taxes for local school bonds. [4]
California taxpayers would pay the bond back with interest. A legislative analyst estimated it would cost the state $650 million a year for the next 30 years or more than $19 billion.
The official oppositional statement of the proposition argues that "Proposition 2 will increase our bond obligations by $10 billion, which will cost taxpayers an estimated $18 billion when repaid with interest. A bond works like a government credit card—paying off that credit card requires the government to spend more of your tax dollars!
California faced another budget gap for 2010, [8] with $72 billion in debt. [9] California faced a massive and still-growing debt. [10] In June 2009 Gov. Arnold Schwarzenegger said "Our wallet is empty, our bank is closed and our credit is dried up." [11] He called for massive budget cuts of $24 billion, about 1 ⁄ 4 of the state's budget. [11 ...
Proposition 5 will lower the voter threshold required to pass local affordable housing and transportation bond measures. Your guide to Proposition 5: Making it easier to pass local housing, road bonds
California lawmakers on Wednesday approved a 2024 ballot measure that asks voters whether to lower the bar for new taxes and bonds to fund housing and public infrastructure.
Source: California Secretary of State [1] Proposition 4 , titled Authorizing bonds for safe drinking water, wildlife prevention, and protecting communities and natural lands from climate risks , was a California ballot proposition and legislative statutes that passed by vote on in the 2024 general election on November 5, 2024.
The bonds will be issued by the California Municipal Finance Authority and have an expected maturity date of 2052. The outlook is stable.RATINGS RATIONALEThe University of San Diego's (CA) (USD ...