Attorney General No.

SA92RF0019

Secretary of State No.

587

Description

REPEAL OF TAX EXEMPTIONS. INITIATIVE CONSTITUTIONAL AMENDMENT AND STATUTE. Deletes constitutional and statutory exemption from property taxes for numerous items, making taxable such items as: libraries and museums, nonprofit schools, churches and religious property, and cemeteries. Deletes the homeowner's property tax exemption and certain exemptions for homes of the blind and disabled and injured veterans. Deletes state reimbursement for local governments of homeowner's exemption. Eliminates exemptions from certain income and sales taxes for such nonprofit organizations as: colleges, veterans organizations, youth groups, private schools, student organizations, PTA groups, blind vending stands, religious organizations, museums, zoos, business inventory and nursery schools. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: Local government revenue (exclusive of K-14) increases of approximately $1.1 billion annually. State revenue increases of up to $3 billion annually. Unknown net effect on the level of support from state funds for K-14 schools -- likely savings of hundreds of millions of dollars annually. Potential net increase in total revenues to K-14 schools, ranging from tens to hundreds of millions of dollars. State savings of approximately $375 million annually due to the repeal of the homeowners' property tax exemption.

Proponents

Clara Henderson, 2604 Harkness Street, Sacramento, California 95818 (916) 448-7439

Date

11-19-1992

Document Type

Initiative

Qualified

Failed to Qualify

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