Attorney General No.

SA81RF0030

Secretary of State No.

291

Description

PRICE FOR REAL PROPERTY. INITIATIVE CONSTITUTIONAL AMENDMENT. Would add a section to the California Constitution providing that no limitation or restriction imposed by the State or any subdivision, instrumentality, or agency thereof, or any municipality, including a charter city, by statute, resolution, ordinance, regulation, or any other governmental rule of general application, upon the price for which real property may be sold, leased, rented, or exchanged shall be valid after January 1, 1984. Makes several specified exceptions. Fiscal impact on state and local governments: The Legislative Analyst and the Director of Finance, basing their estimates on the interpretation that the principal impact of this measure would be the elimination of local rent control operations and inclusionary zoning requirements relating to low and moderate income housing, advise: Since most local rent control activities are financed out of registration fees, the adoption of this initiative would not result in a substantial net change in state or local finances. The ban on inclusionary zoning requirements could result in an unknown increase in state and local tax and construction-related fee revenues. It is unknown whether such revenue increases would be substantial.

Proponents

Mr. Ron Cordova, 369 San Miguel Drive, Suite 250, Newport Beach, California 92660

Date

1-6-1981

Document Type

Initiative

Qualified

Failed to Qualify

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