The Property Ownership Initiative (07-0060) was shooting for the November 2008 general election ballot in California as an initiated constitutional amendment. Its supporters would have had to turn in 694,354 valid signatures in order to make the November ballot. However, the California Secretary of State announced on May 2, 2008 that the measure had failed to qualify.
The objective of the initiative was to amend the California Constitution to declare that governmental entities within California, including cities and counties, may not make any law or ordinance that prevents any citizen from owning or legally acquiring property, or that limits the amount of property one may acquire, grow, produce, or own.
Estimated fiscal impact of the measure
Fiscal impact estimate as provided by California's Legislative Analyst office:
The fiscal effect of this measure cannot be determined, as it would depend largely on how the measure’s terms are interpreted by the courts and implemented by government.