Proposition Summary

Legislative Constitutional Amendment. Establishes formula and limits amount of real property taxes on home or principal office buildings deductible from gross premiums tax by foreign insurers immediately, and by domestic insurers on home or principal office buildings commenced after .January 1, 1970. Redefines term "insurer" so that reciprocal or interinsurance exchanges together with their attorneys in fact be considered as single unit.

Proposition Number

8

Year

1966

Document Type

Proposition

Pass/Fail

Pass

Popular Vote Results

Y: 2881388; A: 56.8; N: 2195027; B: 43.2

Election Type

General Election

Proposition Type

Assembly Constitutional Amendment

Relevant Case

Mutual Life Ins. Co. v. City of Los Angeles: 50 Cal. 3d 402

Code Sections Affected

Amended Cal. Const. art. XIII, section 14 1/4 (a)

For Author

Charles Edward Chapel, Assemblyman, 46th District; Stephen P. Teale, Senator, 26th District

Against Author

E. Richard Barnes, Member Assembly Committee on Revenue and Taxation

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