Attorney General No.
Secretary of State No.
SOUTH AFRICA INVESTMENTS BY CALIFORNIA STATE PUBLIC AGENCIES. INITIATIVE STATUTE. Provides that all direct or indirect investments by public agencies of the State of California in South Africa shall be divested immediately, and 25% of the proceeds shall be invested in projects, opportunities, or firms whose major location of operation lies within the territorial borders of California. Defines terms used. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: This initiative would result in major administrative costs, reductions in asset values and reduced revenues in the form of investment income to state and local governments. These costs and revenue losses could be partially offset to an unknown extent by increased tax revenues if the initiative results in a net increase in the level of economic activity within California.
Grayling Williams Chair California Divestment Committee, 304 Kerckhoff Hall (Ucla), Los Angeles, Ca 90024
Failed to Qualify
South Africa Investments By California State Public Agencies. California Initiative 324 (1983).