California Proposition 206, Veteran Farm and Home Aid Bond Measure (1996)
| California Proposition 206 | |
|---|---|
 | |
| Election date November 5, 1996 | |
| Topic Bond issues and Veterans | |
Status Approved | |
| Type Bond issue | Origin State Legislature |
California Proposition 206 was on the ballot as a bond issue in California on November 5, 1996. It was approved.
A "yes" vote supported authorizing the state to issue $400 million in bonds for farm aid and home aid for veterans. |
A "no" vote opposed authorizing the state to issue $400 million in bonds for farm aid and home aid for veterans. |
Election results
|
California Proposition 206 |
||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
|
|
4,993,677 | 53.56% | ||
| No | 4,330,354 | 46.44% | ||
Overview
Proposition 206 authorized the State of California to sell $400 million in general obligation bonds for the Cal-Vet program, which provides farm and home aid to California veterans. This amount was estimated by the Department of Veterans Affairs to enable an additional 2,000 veterans to receive home mortgages and farm loans.
The first such loan program for veterans was approved by California voters in 1921. By 1996, voters had approved a total of $7.5 billion for the Cal-Vet program. In July 1996, about $250 million of previously approved funds were in the program.
Under the terms of Proposition 206, the money from the bond sales could be used by the Department of Veterans Affairs to purchase farms, homes, and mobile homes which are then resold to California veterans.
Text of measure
Ballot title
The ballot title for Proposition 206 was as follows:
| “ | Veterans' Bond Act of 1996. | ” |
Ballot summary
The ballot summary for this measure was:
| “ |
This act provides for a bond issue of four hundred million dollars ($400,000,000) to provide farm and home aid for California veterans. Costs offset by payments from participating veterans. | ” |
Full Text
The full text of this measure is available here.
Fiscal impact statement
The fiscal impact statement was as follows:[1]
| “ |
|
” |
Path to the ballot
The California State Legislature voted to put Proposition 206 on the ballot via SB 852.
| Votes in legislature to refer to ballot | ||
|---|---|---|
| Chamber | Ayes | Noes |
| Assembly | 74 | 0 |
| Senate | 29 | 0 |
See also
External links
Footnotes
- ↑ University of California, "Voter Guide," accessed May 6, 2021
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
