Attorney General No.
Secretary of State No.
REAL PROPERTY PRICE. INITIATIVE CONSTITUTIONAL AMENDMENT. Adds section to California Constitution providing: "No law shall regulate the price at which real property is offered, purchased, leased, rented, sold, or exchanged." Makes specified exceptions for certain transactions by public entities, guardians, trustees, fiduciaries, and foreclosure sales or transfers. Fiscal impact on state and local governments: The Legislative Analyst and Director of Finance advise that this measure would eliminate local rent control operations, but most of these activities are financed out of registration fees. Therefore, they estimate that its adoption would not result in a substantial net change in state or local government finances.
Mr. George Abrahams, 3150 Durand Drive, Los Angeles, California 90068
Failed to Qualify
Real Property Price California Initiative 289 (1981).