Tuesday, June 5, 2018

CA Primary Election Proposition Guide 6/5/18

Here is my short guide to the Propositions on the California Primary Ballot:

Prop 68 - NO 

Authorizes $4 billion in general obligation bonds for: parks, natural resources protection, climate adaptation, water quality and supply, and flood protection. Fiscal Impact: Increased state bond repayment costs averaging $200 million annually over 40 years. Local government savings for natural resources related projects, likely averaging several tens of millions of dollars annually over the next few decades.

I heard this story before. It's called Proposition 1, Proposition 40, and Proposition 84 in the past two decades. What's the state doing with the money?

Prop 69 - NO 

Requires that certain revenues generated by a 2017 transportation funding law be used only for transportation purposes and generally prohibits Legislature from diverting funds to other purposes. Fiscal Impact: No direct effect on the amount of state and local revenues or costs but could affect how some monies are spent.
Good intention, but I just don't trust the government. They'll funnel the money elsewhere anyway.

Prop 70 - YES 

Beginning in 2024, requires that cap-and-trade revenues accumulate in a reserve fund until the Legislature, by a two-thirds majority, authorizes use of the revenues. Fiscal Impact: Beginning in 2024, potential temporary increase in state sales tax revenue, ranging from none to a few hundred million dollars annually, and possible changes in how revenue from sale of greenhouse gas emission permits is spent.

Anything that removes power from the Liberal Majority vote that's currently held in the Assembly gets a yes from me.

Prop 71 - NO 

Provides that ballot measures approved by a majority of voters shall take effect five days after the Secretary of State certifies the results of the election. Fiscal Impact: Likely little or no effect on state and local finances.

Double-edge sword. Err in the side of caution. 

Prop 72 - YES

Permits Legislature to allow construction of rain-capture systems, completed on or after January 1, 2019, without requiring property-tax reassessment. Fiscal Impact: Probably minor reduction in annual property tax revenues to local governments.

The state wants to tax anything you do to your property even when you're trying to be green. Don't let them tax more.

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