California Proposition 192, the Seismic Retrofit Bond Act (1996)
Proposition 192 authorized $2 billion for seismic retrofitting, including $650 million for seismic retrofitting of toll bridges. It amended Division 1 of Title 2 of the California Government Code.
The California State Legislature's act authorizing that Proposition 192 appear on the March 1996 ballot mandated that if it had failed on the March 1996 ballot, it would appear on the November 1996 ballot.
Two years earlier, Californians had defeated a similar measure, Proposition 1A (1994).
Text of measure
The official ballot summary that appeared on the ballot said:
- This act provides for a bond issue of two billion dollars ($2,000,000,000) to provide funds for a seismic retrofit program.
- Earmarks $650 million for seismic retrofitting of toll bridges
- Appropriates money from the state General Fund to pay off bonds.
- Requires measures to reappear on November 1996 ballot if rejected in March 1996.
The California Legislative Analyst's Office provided an estimate of net state and local government fiscal impact for Proposition 192. That estimate was:
- General Fund cost of about $3.4 billion to pay off both the principal ($2 billion) and interest ($1.4 billion) on the bonds.
- The average payment for the principal and interest over 25 years would be about $138 million per year.
According to the campaign finance reporting system sponsored by the California Secretary of State, campaign committees that exclusively focused on Proposition 192 spent $29,647 supporting it and $42,735 was spent opposing it.
- A group called "Taxpayers Against Frivolous Lawsuits" spent $38.2 million cumulatively in a campaign to support Prop 192, Prop 200, Prop 201, Prop 202, Prop 203 and Prop 204.
- The group called "California Business PAC" spent about $1.8 million cumulatively in a campaign to support Prop 192, Prop 200, Prop 201, Prop 202, Prop 203 and Prop 204. From the same pool of money ($1.8 million) this group also opposed propositions 207, 208, 210, 211, 212, 214, 216 and 217.
Path to the ballot
Proposition 192 was voted onto the ballot by the California State Legislature via Senate Bill 146 (Statutes of 1995, Chapter 310).
|Votes in legislature to refer to ballot|
- Official Voter Guide to Proposition 192
- Full text of Proposition 192
- March 26, 1996 California elections results
- PDF of the March 26 voter guide