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California Proposition 6, Insurance Company Taxation Amendment (1938)
| California Proposition 6 | |
|---|---|
 | |
| Election date November 8, 1938 | |
| Topic Taxes | |
Status Approved | |
| Type Constitutional amendment | Origin State legislature |
California Proposition 6 was on the ballot as a legislatively referred constitutional amendment in California on November 8, 1938. It was approved.
A “yes” vote supported taxing insurance companies at 2.6% the amount of gross premiums minus return premiums and excluding premiums on reinsurance and ocean marine insurance from taxation. |
A “no” vote opposed taxing insurance companies at 2.6% the amount of gross premiums minus return premiums and excluding premiums on reinsurance and ocean marine insurance from taxation. |
Election results
|
California Proposition 6 |
||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
|
|
1,424,076 | 70.04% | ||
| No | 609,135 | 29.96% | ||
Text of measure
Ballot title
The ballot title for Proposition 6 was as follows:
| “ | Taxation of Insurance Companies | ” |
Ballot summary
The ballot summary for this measure was:
| “ | Senate Constitutional Amendment 1. Adds section 14 ¾ to Article XII of Constitution. Declares insurance companies and associations shall be taxed 2.6% upon amount of gross premiums less return premiums, received upon business done in this state subsequent to December 31, 1937, other than premiums for reinsurance and ocean marine insurance. Eliminates existing constitutional provision for deduction of reinsurance premiums paid to other admitted insurers; otherwise section 14 of Article XIII remains unchanged. Declares effective dates of amendment with respect to business transacted in this state by such companies and associations. | ” |
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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