California Proposition 1C (2006)
From Ballotpedia
| Voting on Housing |
|---|
|
Contents |
Objectives of the initative
The objectives of Proposition 1C as stated on the California Secretary of State website were:
1. 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.
2. 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.
3. Requires reporting and publication of annual independent audited reports showing use of funds, and limits administration and overhead costs.
4. Appropriates money from the General Fund to pay off bonds. [1]
Costs of the proposition
The cost will be about $6.1 billion over 30 years [2]
Arguments for the proposition
- 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. [3]
Arguments against the proposition
- 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[4]
Taxpayer perspective
Propositions 1B through 1E would issue a total of nearly $37.3 billion in new debt authority to the state for various purposes, including highways, schools, homeless shelters, and flood-control projects. Opponents of these measures argue that the state can’t afford such a large borrowing spree.
Campaign finance
Donors for the campaign for the measure:[5]
- 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
External links
- Complete text of the proposition
- Legislative analysis
- League of Women Voters Analysis
- Article supporting the proposition
- Article opposing the proposition
