Secretary of State No.
GROSS INCOME TAX. WARRANT CREDITS. Initiative Constitutional Amendment. Provides for State a... local budgets. Imposes 3 percent gross income tax, payable monthly, for public expenditures, eliminating existing taxes, licenses and fees. Requires issuance weekly to certain persons fifty years old twenty $1.00 warrant redeemable annually in cash provided fifty-two two cent stamps, sold by State, affixed thereon; seven such warrants to certain unemployed persons and students. Declares money or value received from any source taxab... income; specifies exceptions including transactions consummated with warrants. Creates administrative board fr... from judicial interference; and State bank, capitalized with public funds, handling warrants.
Failed to Qualify
Gross Income Tax California Initiative 1940-g-1 (1940).