Attorney General No.

SA82RF0012

Secretary of State No.

311

Description

GOVERNMENT PENSION PLANS. INITIATIVE CONSTITUTIONAL AMENDMENT. After January 1, 1985, requires enrollment in Federal Social Security of every newly hired or elected person of every city, county, tax funded or publicly owned operation, and the state; prohibits adding anyone to preexisting pension plans of these governmental entities; and restricts use of tax and general assessments funds for these newly hired or elected persons to use for Federal Social Security. Prohibits increase in property taxes inconsistent with Article XIIIA if additional or excess funds are required for pensions. Requires real estate tax rate revision downward when savings occurs. Makes other provisions. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: There would be substantial savings to the state and local governments, probably about $230 million in 1985, the first full year of operation. These annual savings would increase substantially over time.

Proponents

J. E. Davis, Box 1964, Studio City, Ca 91604

Date

1-31-1983

Document Type

Initiative

Qualified

Failed to Qualify

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