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California Proposition 5, Gift and Inheritance Tax Initiative (June 1982)

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California Proposition 5

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Election date

June 8, 1982

Topic
Taxes
Status

ApprovedApproved

Type
Initiated state statute
Origin

Citizens



California Proposition 5 was on the ballot as an initiated state statute in California on June 8, 1982. It was approved.

A “yes” vote supported repealing the current inheritance and gift tax laws, prohibiting gift and inheritance taxes, and requiring the state to levy an estate tax.

A “no” vote opposed repealing the current inheritance and gift tax laws, prohibiting gift and inheritance taxes, and requiring the state to levy an estate tax.


Election results

California Proposition 5

Result Votes Percentage

Approved Yes

3,208,394 61.79%
No 1,983,818 38.21%
Results are officially certified.
Source


Text of measure

Ballot title

The ballot title for Proposition 5 was as follows:

Gift and Inheritance Taxes (Proponent Miller).

Ballot summary

The ballot summary for this measure was:

GIFT AND INHERITANCE TAXES (Proponent Miller). LEGISLATIVE STATUTE. Repeals existing statutes governing gift and inheritance taxes. Prohibits imposition of gift or inheritance taxes. Reenacts state "pickup" tax on decedents' estates at rate set by schedule of credits for state death taxes under specified provisions of the United States Internal Revenue Code. Requires Legislature to provide for collection and administration of this tax. See analysis of Legislative Analyst in Ballot Pamphlet for discussion of effective date of this measure. Summary of Legislative Analyst's estimate of net state and local government fiscal impact: Reduce state inheritance and gift tax revenues by about $130 million in 1982-83, by about $365 million in 1983-84, and by higher amounts thereafter. Save state approximately $6 million annually in administrative costs. Under existing law, reductions in state revenue would result in corresponding reductions in amount of fiscal relief provided by state to local governments and schools.

Full Text

The full text of this measure is available here.


Path to the ballot

See also: Signature requirements for ballot measures in California

In California, the number of signatures required for an initiated state statute is equal to 5 percent. For initiated statutes filed in 1982, at least 346,119 valid signatures were required.

See also


External links

Footnotes