Secretary of State No.
HOUSING. INITIATIVE CONSTITUTIONAL AMENDMENT. Adds Article XXVII to Constitution. Creates State Housing Agency. Authorizes State to guarantee obligations of, and furnish operating subsidies to, public housing authorities, expenditures for such purposes not to exceed $25,000,000 annually. Authorizes State bonds up to $100,000,000 to finance State loans to public housing authorities and private non-profit housing associations; bond principal and interest to be paid from State tax revenues. Prescribes State and local government powers, eminent domain and other powers of housing authorities. Regulates taxation of housing authority property. Exempts local housing authority bonds from taxation.
Housing California Initiative 1948-h-1 (1948).