Ballot Measure Update - California Secretary of State

Repeals bonds voters authorized in 2004 to fund the California Institute for Regenerative Medicine. Voids contracts entered into by Institute before November 5, 2008. Requires Legislature to spend $900 million to construct and fund an umbilical cord blood and adult stem cell research facility that also performs certain defined embryo adoptions and implantations. Prohibits funding of human embryonic stem cell research. Requires Legislature to appoint 35 member governing board to oversee new facility. Requires taxpayers to pay all legal costs proponent incurs fighting challenges to initiative. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local government: Potential state savings of about $120 million annually over the next few decades resulting from reduced principal and interest costs for bonds to fund stem cell research. Unknown potential loss of state or local revenue gains and cost savings due to reduced stem cell research funding. Unknown gain of state revenues for fees related to embryo adoptions. Unknown potential gain of local government revenue due to possible allocation of patent or license revenues to local governments. (Initiative 08-0011.) (Full Text)

08-0015 �California Nonpartisan Primary Initiative�

Withdrawn from the Attorney General�s Office on October 29, 2008.

Proponent: Steve Peace

Initiatives and Referenda in Circulation
as of November 18, 2008

1344. Wealth Tax...

1345. Election Day...

1346. Legislators' Terms...

1344. (08-0012, Amdt. #1NS)

Wealth Tax. Constitutional Amendment and Statute.
Summary Date: 08/04/08 Circulation Deadline: 01/02/09 Signatures Required: 694,354

Proponent: Paul McCauley

Imposes one-time tax of at least 55% on property exceeding $20 million of a California resident or held in California by nonresident. Imposes one-time tax (between 36.5% - 54.3%) on income exceeding $10 million when resident dies or leaves California. Imposes additional 17.5% tax on total incomes of taxpayers with income exceeding $150,000 if single, $250,000 if married; 35% if incomes exceed $350,000 if single, $500,000 if married. Creates tax credits. Requires State to acquire shares of specified corporations to influence environmental practices. May exempt new revenues from education funding requirements. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local government: One-time increase in state revenues potentially in the low hundreds of billions of dollars from imposition of a wealth tax, and ongoing increase in state revenues potentially in the billions of dollars from imposition of the tax on certain people dying or leaving the state. This revenue would be allocated to accomplish various goals related to environmental protection. Potential annual net increase in personal income tax revenues in the tens of billions of dollars annually. The first $7.5 billion annually would be allocated to the state General Fund with additional revenue allocated for environmental protection. Unknown state and local revenue reductions � potentially in the tens of billions of dollars annually � due to changes in taxpayer behavior. (Initiative 08-0012.) (Full Text)

1345. (08-0013)

Election Day Holiday. Initiative Statute.
Summary Date: 08/04/08 Circulation Deadline: 01/02/09 Signatures Required: 433,971

Proponent: Roy Benson

Declares a state holiday on Election Day - the Tuesday following the first Monday in November during even-numbered years. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local government: Increased state costs once every two years of up to $20 million. (Initiative 08-0013.) (Full Text)

1346. (08-0014)

Legislators� Terms in Office. Campaign Contributions and Junkets. Initiative Constitutional Amendment.
Summary Date: 10/02/08 Circulation Deadline: 03/02/09 Signatures Required: 694,354

Proponent: Paul McCauley

Changes the California Constitution to allow legislators to serve more time in office. Allows a person to serve an additional four-year term in the Senate for a maximum of 12 years. Allows a person to serve an additional two-year term in the Assembly for a maximum of eight years. Provides that a legislator �may serve a further term beyond the current term in office� if he or she does not receive campaign contributions or accept any �privately-funded junkets.� Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local government: This measure would have no direct fiscal effect on state or local governments. (Initiative 08-0014.) (Full Text)

Initiatives Pending at the Attorney General's Office
as of November 18, 2008

The list below reflects those proposed measures that have been submitted to the Attorney General for preparation of the title and summary that will appear on the initiative petitions. This process takes approximately 60 days; however, if amendments are submitted by the proponent the time period is lengthened. When the official summary is complete, the Attorney General forwards it to the proponent and to the Secretary of State. The Secretary of State then provides calendar deadlines to the proponent and to the county elections officials.

Attorney General #

Approximate Due Date to
Secretary of State

Subject

Proponent(s)

08-0016 - 12/08/08

The McCauley Legislative Reform Act

Paul McCauley

08-0017 - 12/22/08

The California Public Safety and Law Enforcement Act

Tony Avila Sampson
Rose Marie Sampson
Floyd Garfield Sampson

08-0018 - 01/06/09

The McCauley Public Employee Pension Reform Act