California Comprehensive Tax Reform Initiative (2010)

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A California Comprehensive Tax Reform Initiative (09-0051) did not qualify for the November 2, 2010 ballot in California as an initiated constitutional amendment.

On October 7, 2009, Frank D. Walker filed a request with the Office of the California Attorney General for an official ballot title on an act that he is calling the "Comprehensive Tax Reform Initiative."

The initiative had been cleared for circulation. The signature deadline, which was not met, was May 17, 2010.

Goal

If this measure succeeded, it would have changed California's taxation provisions in a variety of different ways.

Text of measure

Ballot title

Changes California's Income and Property Tax Laws. Initiative Constitutional Amendment.[1]

Summary

Repeals the two-thirds vote requirements to raise state or local taxes. Repeals Proposition 13's caps on property taxes. Excludes first $150,000 of personal income from taxation. Imposes maximum 8% marginal tax rate on personal income above $150,000. Allows taxpayers to take a credit against personal income taxes for property taxes paid in the same year. Imposes taxes on land having rental value.[1]

Estimated fiscal impact

Replaces virtually all existing state and local tax revenues (about $170 billion) with a roughly equivalent amount from a new land tax and other taxes. Major revenue gains or losses could result depending on how the measure is implemented by the state.[1]

Path to the ballot

See also: California signature requirements

In order to make the 2010 ballot as an initiated constitutional amendment, supporters of the measure will have to collect 694,354 valid signatures of registered voters by May 17, 2010.

External links

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