"TAX TREATMENT FOR MULTISTATE BUSINESSES. CLEAN ENERGY AND ENERGY EFFIC"
 

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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