California Proposition 6, Repeal of Insurance Company Tax Exemption Amendment (June 1976)

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California Proposition 6

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Election date

June 8, 1976

Topic
Insurance policy and Taxes
Status

ApprovedApproved

Type
Legislatively referred constitutional amendment 		Origin

State legislature


California Proposition 6 was on the ballot as a legislatively referred constitutional amendment in California on June 8, 1976. It was approved.

A “yes” vote supported eliminating the property tax exemption given to insurance companies for real property taxes paid on the insurers' home or principal office in California.

A “no” vote opposed eliminating the property tax exemption given to insurance companies for real property taxes paid on the insurers' home or principal office in California.


Election results

California Proposition 6

Result Votes Percentage

Approved Yes

3,645,372 67.00%
No 1,795,486 33.00%
Results are officially certified.
Source


Text of measure

Ballot title

The ballot title for Proposition 6 was as follows:

“Insurance Company Home Office Tax Deduction”

Ballot summary

The ballot summary for this measure was:

“ INSURANCE COMPANY HOME OFFICE TAX DEDUCTION. LEGISLATIVE CONSTITUTIONAL AMENDMENT. Repeals and amends portions of Article XIII, section 28, to eliminate income tax deduction presently given insurance companies for real property taxes paid on insurers' home or principal office in California. Financial impact: The adoption of this measure will increase state General Fund revenues by approximately $19 million during the first year and this increase will probably grow thereafter.”

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

1976 Measures

California

News and analysis


External links

Footnotes

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