Secretary of State No.
OLD AGE PENSION. Initiative measure for submission to Legislature, effective upon sales tax repeal. Provides for licensing wholesalers and retailers. Taxes wholesalers 10% on gross sales; taxes retailers 10% on purchases for resale from wholesalers doing business outside California; exempting specified transactions. Declares funds received therefrom available for pensioning persons 60 years old agreeing to refrain from profitable commercial endeavor, paying them $100 monthly if unmarried, $150 jointly if married, provided pension expended in California for necessaries within 31 days. Administrative expenses payable from state general fund. Provides penalties for violations.
Failed to Qualify
Old Age Pension California Initiative 1934-o-1 (1934).