Proposition Summary

Requires multistate businesses to pay income taxes based on percentage of their sales in California. Dedicates revenues for five years to clean/efficient energy projects. Fiscal Impact: Increased state revenues of $1 billion annually, with half of the revenues over the next five years spent on energy efficiency projects. Of the remaining revenues, a significant portion likely would be spent on schools.

Proposition Number

39

Year

2012

Document Type

Proposition

Pass/Fail

Pass

Popular Vote Results

Y:7384416;A:61.1;N:4701562;B:38.9

Election Type

General Election

Proposition Type

Initiative Statute

For Author

Jane Warner, President, American Lung Association in California

Against Author

Jack Stewart, President, California Manufacturers & Technology Association

Rebuttal Author

Mike Spence, President, California Taxpayer Protection Committee

Rebuttal Against Author

Alan Joseph Bankman, Professor of Tax Law, Stanford Law School

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