California Proposition 1C, Bonds for Housing (2006)
|Voting on Housing|
|Not on ballot|
It aimed at providing housing for needy families, seniors and military veterans as well as shelters for battered women.
Text of measure
The ballot title was:
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?"
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.
- 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."
- 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.
- Will put California $3 billion in debt
- Will not make housing affordable
- Will inevitably raise taxes
Donors to the campaign for the measure:
- 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|
- Complete text of Proposition 1C
- Official Proposition 1C voter guide
- PDF of the mailed November 7, 2006 voter guide for Proposition 1C
- Proposition 1C on the Smart Voter Guide
- Analysis of Proposition 1C from the Institute of Governmental Studies
- Guide to Proposition 1C from the California Voter Foundation
- Summary of donors to and against 1C from Cal-Access
- Donors for and against Proposition 1C from Follow The Money
- Official declaration of the November 7, 2006 ballot proposition election results
- San Francisco Chronicle, "Housing bond would boost programs for the poor; Proposition 1C would also fund anti-sprawl projects in cities," September 20, 2006