Secretary of State No.
TAXING FIRE INSURANCE COMPANIES. Initiative measure adding section 14 1/2 to Article XIII of Constitution. Imposes upon companies not incorporated in California, or controlled by insurance company not incorporated therein, doing business of fire insurance upon property therein, an additional tax of two per cent of gross premiums from such business; receipts therefrom, distributed according to population among political subdivisions maintaining fire departments with equipment worth at least two thousand dollars, to be used for pensioning firemen and dependents and accident compensation insurance for part time and unpaid firemen; limits required service for such pension to twenty years.
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Taxing Fire Insurance Companies California Initiative 1926-t-1 (1926).