Title

TAXATION

Proposition Summary

Assembly constitution amendment 30. Adds Section 12 ½ to Article XIII of Constitution. Authorizes taxation of notes, debentures, shares of stock, bonds, solvent credits or mortgages, not now exempt, in manner, at rate or proportionate to value, different from other property, and in lieu of all other property taxes thereon, requiring equitable distribution thereof to political subdivision wherein levied; rates not to exceed those on other property not exempt, and when fixed by legislature altered only by two-thirds vote of each house; property taxed for state purposes under Section 14 of same article unaffected hereby.

Proposition Number

9

Year

1924

Document Type

Proposition

Pass/Fail

Pass

Popular Vote Results

Y: 429031; A: 53.8; N: 368014; B: 46.2

Election Type

General Election

Proposition Type

Assembly Constitutional Amendment

Code Sections Affected

Added Cal. Const. art. XIII, section 12 1/2.

For Author

William Seward Scott, Assemblyman Twenty-seventh District; Frank C. Weller, Assemblyman Sixty-first District

Against Author

Frank L. Coombs, Assemblyman Eleventh District

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