Attorney General No.
Secretary of State No.
STATE INCOME TAX. MINIMUM INCOME LEVEL. INITIATIVE CONSTITUTIONAL AMENDMENT. Amends the state constitution to exempt from state income tax the first $30,000 earned by any person or entity. Requires two-thirds voter approval before this amount may be lowered. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: This measure would result in state revenue losses of approximately $12.0 billion in 1996-97. Thereafter, $8.7 billion annually. It would also result in state savings of approximately $5.8 billion in school apportionments in 1996-97 and approximately $4.0 billion annually thereafter. Further, it would result in state savings in tax return processing of tens of millions of dollars annually, beginning in 1996-97.
Thomas B. Neece, 9475 Laughlin Way, Redwood Valley California 95470 I(707) 485 0487
State Income Tax. Minimum Income Level. California Initiative 649 (1994).