Title

ELIMINATES STATE INCOME AND PROPERTY TAXES FOR ALL RESIDENTS 55 YEARS OLD AND OLDER. INITIATIVE CONSTITUTIONAL AMENDMENT

Attorney General No.

09-0045

Secretary of State No.

1395

Description

Exempts California residents who are 55 years old or older from paying state income and property taxes. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local government: Annual state revenue losses of $15 billion or more due to new exemptions on personal income and estate taxation. Annual local government revenue losses of $5 billion to $10 billion due to new exemptions on property taxes.

Proponents

Lee W. Olson

Date

11-24-2009

Document Type

Initiative

Qualified

Failed to Qualify

Recommended Citation

ELIMINATES STATE INCOME AND PROPERTY TAXES FOR ALL RESIDENTS 55 YEARS OLD AND OLDER. INITIATIVE CONSTITUTIONAL AMENDMENT California Initiative 1395 (2009).
https://repository.uclawsf.edu/ca_ballot_inits/1590