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California Proposition 17, Ocean Marine Insurance Tax Amendment (1930)
| California Proposition 17 | |
|---|---|
 | |
| Election date November 4, 1930 | |
| Topic Taxes | |
Status Approved | |
| Type Constitutional amendment | Origin State legislature |
California Proposition 17 was on the ballot as a legislatively referred constitutional amendment in California on November 4, 1930. It was approved.
A “yes” vote supported requiring ocean marine insurance companies to pay a tax based on underwriting profits, requiring the legislature to define "ocean marine insurance" and "underwriting profit", and requiring the legislature to set the tax rate and means for collecting such tax. |
A “no” vote opposed requiring ocean marine insurance companies to pay a tax based on underwriting profits, requiring the legislature to define "ocean marine insurance" and "underwriting profit", and requiring the legislature to set the tax rate and means for collecting such tax. |
Election results
|
California Proposition 17 |
||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
|
|
706,293 | 75.90% | ||
| No | 224,252 | 24.10% | ||
Text of measure
Ballot title
The ballot title for Proposition 17 was as follows:
| “ | Taxation of Ocean Marine Insurers | ” |
Ballot summary
The ballot summary for this measure was:
| “ | Senate Constitutional Amendment 17. Adds Section 18 to Article XIII of the Constitution. Requires each ocean marine insurer pay annual State tax measured by that proportion of its underwriting profit from business in United States which its gross premiums from business in California bear to its gross premiums from business in United States; exempting such insurer from-all other taxes and licenses except real property taxes and those imposed because of other class of insurance written by it. Requires Legislature define "ocean marine insurance" and "underwriting profit." fix tax rate and provide for assessment and collection. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
- See also: Amending the California Constitution
A two-thirds vote was needed in each chamber of the California State Legislature to refer the constitutional amendment to the ballot for voter consideration.
See also
External links
Footnotes
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State of California Sacramento (capital) |
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