Attorney General No.
11-0044
Secretary of State No.
1522
Description
Imposes 15 percent tax on value of oil and natural gas extracted in California to supplement education funding, for purposes of reducing class size, reducing tuition, restoring classes cut, providing instructional materials and hiring teachers and professors. Allocates tax revenues as follows: 11 percent to University of California; 14 percent to California State University; 38 percent to community colleges; 37 percent to K-12. Prohibits reduction of existing education-funding levels based on these additional tax revenues. Prohibits passing tax through to consumers by way of higher fuel prices. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local government: Increased state revenues from a new oil and gas severance tax of around $3 billion per year. These revenues would be allocated to education and would likely result in increased state funding of various education programs.
Proponents
Peter Mathews and Paul R. Garver (562) 234-3319
Date
11-21-2011
Document Type
Initiative
Qualified
Failed to Qualify
Recommended Citation
Tax on California Oil and Natural Gas. Revenues to Education. Initiative Statute. California Initiative 1522 (2011).
https://repository.uclawsf.edu/ca_ballot_inits/1725