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California Proposition 8, Transfer of Total Anticipated Revenues Amendment (1982)
| 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 November 2, 1982. It was approved.
A “yes” vote supported allowing the treasurer of any city, county, or city and county to transfer up to 85% of total anticipated revenues to local agencies. |
A “no” vote opposed allowing the treasurer of any city, county, or city and county to transfer up to 85% of total anticipated revenues to local agencies, instead allowing the transfer of 85% of anticipated tax revenues. |
Election results
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California Proposition 8 |
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| Result | Votes | Percentage | ||
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3,367,595 | 50.99% | ||
| No | 3,236,686 | 49.01% | ||
Text of measure
Ballot title
The ballot title for Proposition 8 was as follows:
| “ | Transfer of Funds by Local Governments. | ” |
Ballot summary
The ballot summary for this measure was:
| “ | TRANSFER OF FUNDS BY LOCAL GOVERNMENTS. LEGISLATIVE CONSTITUTIONAL AMENDMENT. The Constitution provides exceptions from the lending of credit and gift restrictions for the making of specified temporary transfers of funds to counties, cities, districts, and other political subdivisions to meet their obligations incurred for maintenance purposes. Presently funds so transferred may not exceed 85 percent of "taxes" accruing to the political subdivision and must be replaced from "taxes" accruing before any other obligations are met from "taxes." This amendment modifies the limitation to 85 percent of "anticipated revenues" and requires repayment from "revenues" accruing before any other obligations are met from "revenues." Summary of Legislative Analyst's estimate of net state and local government fiscal impact: No direct state or local fiscal impact. As described in Analyst's estimate, when larger amounts of money are loaned it could reduce the interest costs of the borrowing local agency and, conversely, reduce the interest that would normally otherwise be earned by the nonborrowing local agencies. | ” |
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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