California Proposition 1C, Bonds for Housing (2006)

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California Proposition 1C, also known as the Housing and Emergency Shelter Trust Fund Act of 2006 was on the November 7, 2006 ballot in California as a legislatively-referred bond act, where it was approved.

It aimed at providing housing for needy families, seniors and military veterans as well as shelters for battered women.

Election results

Proposition 1C
ResultVotesPercentage
Approveda Yes 4,814,850 57.8%
No3,521,05542.2%

Text of measure

Title

The ballot title was:

Housing and Emergency Shelter Trust Fund Act of 2006. Legislative Bond Act.

Question

Proposition 1C 2006.PNG

The question on the ballot was:

"Should the state sell $2.9 billion in general obligation bonds to fund housing for lower-income residents and to assist development in urban areas near public transportation?"

Summary

The official summary provided to describe Proposition 1C said:

  • Funds may be used for the purpose of providing shelters for battered women and their children, clean and safe housing for low-income senior citizens; homeownership assistance for the disabled, military veterans, and working families; and repairs and accessibility improvements to apartment for families and disabled citizens.
  • The state shall issue bonds totaling two billion eight hundred fifty million dollars ($2,850,000,000) paid from existing state funds at an average annual cost of two hundred and four million dollars ($204,000,000) per year over the 30 year life of the bonds.
  • Requires reporting and publication of annual independent audited reports showing use of funds, and limits administration and overhead costs.
  • Appropriates money from the General Fund to pay off bonds.

Fiscal impact

See also: Fiscal impact statement

The fiscal estimate provided by the California Legislative Analyst's Office said:

"State cost of about $6.1 billion over 30 years to pay off both the principal ($2.85 billion) and interest costs ($3.3 billion) on the bonds. Payments of about $204 million per year."

Arguments for

  • Helps reduce homelessness and provides shelters for abused women and their children
  • Helps working familes buy homes of their own
  • Helps senior citizens afford housing
  • Part of the "Rebuild California" project that will improve California for future generations and provide the resources needed for the tremendous growth that the state continues to see.

Main proponents: Habitat for Humanity, California Partnership to End Domestic Violence, AARP.[1] (dead link)

Arguments against

  • Will put California $3 billion in debt
  • Will not make housing affordable
  • Will inevitably raise taxes

Main Opponent: Assemblyman Chuck Devore, Member, California State Assembly[2] (dead link)

Campaign finance

Donors to the campaign for the measure:[3]

  • Rebuilding California, Yes on Propositions 1A, 1B, 1C, 1D and 1E: $9,235,090
  • Yes on Prop 1C: $2,405,515
  • Citizens for Responsible Elections: $30,000
  • CMTE for California's Future: $29,500
  • EHC Lifebuilders Yes on Prop 1C: $4,999
  • Total: $11,705,104

Path to the ballot

The California State Legislature voted to put Proposition 1C on the ballot via Senate Bill 1689 of the 2005–2006 Regular Session (Chapter 27, Statutes of 2006).

Votes in legislature to refer to ballot
Chamber Ayes Noes
Assembly 54 16
Senate 27 11

External links

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Suggest a link

Additional reading

References