POLITICAL CAMPAIGNS. PUBLIC FINANCING. CORPORATE TAX INCREASE. CAMPAIGN CONTRIBUTION AND EXPENDITURE LIMITS. INITIATIVE STATUTE. Provides that candidates for state elective office meeting certain eligibility requirements, including collection of a specified number of $5.00 contributions from voters, may voluntarily receive public campaign funding from Fair Political Practices Commission, in amounts varying by elective office and election type. Increases income tax rate on corporations and financial institutions by 0.2 percent to fund program. Imposes new limits on campaign contributions to state-office candidates and campaign committees, and new restrictions on contributions by lobbyists, state contractors. Limits certain contributions and expenditures by corporations. Summary of Legislative Analyst’s Estimate of Net State and Local Government Fiscal Impact: Increased revenues (primarily from increased taxes on corporations and financial institutions) totaling more than $200 million annually. The funds would be spent on the public financing of political campaigns for state elected officials.
Popular Vote Results
Initiative CONSTITUTIONAL AMENDMENT AND STATUTE.
DEBORAH BURGER, RN, President, California Nurses Association; HARVEY ROSENFIELD, Founder, Foundation for Taxpayer and Consumer Rights; SUSAN LERNER, Executive Director, California Clean Money Campaign
ALLAN ZAREMBERG, President, California Chamber of Commerce; TONY QUINN, Former Commissioner, California Fair Political Practices Commission; LARRY McCARTHY, President, California Taxpayers' Association
Rebuttal Against Author
JACQUELINE JACOBBERGER, President, League of Women Voters of California; RICHARD L. HASEN, JD, Ph.D., Constitutional Election Law Professor; KATHAY FENG, Executive Director, California Common Cause
POLITICAL CAMPAIGNS. PUBLIC FINANCING. CORPORATE TAX INCREASE. CAMPAIGN CONTRIBUTION AND EXPENDITURE LIMITS. California Proposition 89 (2006).