California Public School Investment (2010)
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will not appear on a ballot
Robin Johansen and Karen Getman of the Remcho, Johansen & Purcell law firm filed a request for a ballot title with the Office of the California Attorney General on November 5, 2009. The first request was filed on November 4, 2009 and the seventh request was filed on November 12. They call the proposed amendment the Education and Taxpayer Fairness Act.
09-0078 was cleared for petition circulation in early January 2010 with a signature deadline of June 7, 2010.
Purpose and Intent
The "Purpose and Intent" statement filed with the proposed language says:
1. This measure is intended to reduce property taxes for homeowners on the dwelling they occupy by doubling the homeowners' exemption from $7,000 to $14,000.
2. This measure is not intended to alter or repeal any other exemption currently applicable to taxes on real property or to increase or in any way affect the property taxes paid by homeowners on noncommercial property.
3. In addition, the People enact this measure to do the following:
- a. Ensure that commercial property pays its fair share of property taxes.
- b. Provide for the exclusion of $1 ,000,000 in personal property tax for businesses, in order to give small businesses tax relief.
- c. Provide additional funding for school districts and higher education.
Title: Provides Additional School Funding by Increasing Commercial Property Taxes. Increases Homeowners' Tax Exemption. Initiative Constitutional Amendment and Statute.
Summary: Funds K-12 schools, community colleges, and state universities by increasing commercial nonagricultural property taxes by 0.55 percent. Restricts funds' use to class-size reduction, instructional materials, teacher and non-management staff compensation, and training; prohibits use for administrative costs. Requires annual audits. Doubles homeowners' tax exemption from $7,000 to $14,000 for residential property. Creates small business tax exemption for first $1,000,000 in personal property. Reimburses local governments for tax revenue decrease.
Estimated fiscal impact: "Increased net state revenues of about $4 billion annually, due to higher taxes on nonresidential real property. These revenues would be spent by K-12 school districts, community colleges, and CSU."
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