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California Proposition 8, Insurance Tax Amendment (1966)
| California Proposition 8 | |
|---|---|
 | |
| Election date November 8, 1966 | |
| Topic Insurance | |
Status Approved | |
| Type Constitutional amendment | Origin State legislature |
California Proposition 8 was on the ballot as a legislatively referred constitutional amendment in California on November 8, 1966. It was approved.
A “yes” vote supported limiting the amount of property taxes on the principal office of insurance companies that can be deducted from the insurance tax and including reciprocal or inter-insurance exchanges with their attorneys in the constitutional definition of "insurers". |
A “no” vote opposed limiting the amount of property taxes on the principal office of insurance companies that can be deducted from the insurance tax and including reciprocal or inter-insurance exchanges with their attorneys in the constitutional definition of "insurers". |
Election results
|
California Proposition 8 |
||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
|
|
2,881,388 | 56.76% | ||
| No | 2,195,027 | 43.24% | ||
Text of measure
Ballot title
The ballot title for Proposition 8 was as follows:
| “ | Taxation: Insurance Companies; Home or Principal Office Deduction | ” |
Ballot summary
The ballot summary for this measure was:
| “ | Legislative Constitutional Amendment. Establishes formula and limits amount of real property taxes on home or principal office buildings deductible from gross premiums tax by foreign insurers immediately, and by domestic insurers on home or principal office buildings commenced after .January 1, 1970. Redefines term "insurer" so that reciprocal or interinsurance exchanges together with their attorneys in fact be considered as single unit. | ” |
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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