Proposition Summary

VETERANS’ BOND ACT OF 2000. • This act provides for a bond issue of five hundred million dollars ($500,000,000) to provide farm and home aid for California veterans. • Appropriates money from state General Fund to pay off bonds, if costs not offset by payments from participating veterans. Summary of Legislative Analyst’s Estimate of Net State and Local Government Fiscal Impact: • Costs of about $858 million to pay off both the principal ($500 million) and interest (about $358 million) on the bonds; costs paid by participating veterans. • Average payment for principal and interest of about $34 million per year for 25 years.

Proposition Number

32

Year

2000

Document Type

Proposition

Pass/Fail

Pass

Legislative Vote Results

Final Votes Cast by the Legislature on AB 2305 (Proposition 32) -- Assembly: Ayes 76 Noes 0 -- Senate: Ayes 36 Noes 0 --

Popular Vote Results

Y: 6743986; A: 67.2; N: 3294310; B: 32.8

Election Type

General Election

Proposition Type

Bond Act Act

For Author

ASSEMBLYMAN JOHN A. DUTRA, Chair Assembly Committee on Veterans Affairs; SENATOR K. MAURICE JOHANNESSEN, Chair Senate Committee on Veterans Affairs --

Against Author

MELVIN L. EMERICH, Co-chair Voter Information Alliance; GARY B. WESLEY, Co-chair Voter Information Alliance --

Rebuttal Author

MELVIN L. EMERICH, Attorney at Law --

Rebuttal Against Author

HONORABLE GRAY DAVIS, Governor; ASSEMBLYMAN JOHN A. DUTRA, Chair Assembly Committee on Veterans Affairs; SENATOR K. MAURICE JOHANNESSEN, Chair Senate Committee on Veterans Affairs --

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