California Proposition 8,Deposit of Public Moneys Amendment (June 1976)
| California Proposition 8 | |
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| Election date |
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| Topic State and local government budgets, spending, and finance |
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| Status |
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| Type Legislatively referred constitutional amendment |
Origin |
California Proposition 8 was on the ballot as a legislatively referred constitutional amendment in California on June 8, 1976. It was approved.
A “yes” vote supported allowing for the deposit of public moneys in savings associations, loan associations, and banks in California. |
A “no” vote opposed allowing for the deposit of public moneys in savings associations, loan associations, and banks in California. |
Election results
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California Proposition 8 |
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| Result | Votes | Percentage | ||
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3,978,512 | 74.20% | ||
| No | 1,383,010 | 25.80% | ||
Text of measure
Ballot title
The ballot title for Proposition 8 was as follows:
| “ | Deposit of Public Moneys in Savings and Loan Associations | ” |
Ballot summary
The ballot summary for this measure was:
| “ | DEPOSIT OF PUBLIC MONEYS IN SAVINGS AND LOAN ASSOCIATIONS. LEGISLATIVE CONSTITUTIONAL AMENDMENT. This amendment to Article XI, section 11(b) authorizes the Legislature to provide for deposit of public moneys in savings and loan associations in California as well as in banks in California. Financial impact: No direct fiscal effect--depends upon adoption of implementing legislation which could result in increased earnings on public deposits. | ” |
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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