Proposition Summary

Senate Constitutional Amendment 17. Adds Section 18 to Article XIII of the Constitution. Requires each ocean marine insurer pay annual State tax measured by that proportion of its underwriting profit from business in United States which its gross premiums from business in California bear to its gross premiums from business in United States; exempting such insurer from-all other taxes and licenses except real property taxes and those imposed because of other class of insurance written by it. Requires Legislature define "ocean marine insurance" and "underwriting profit." fix tax rate and provide for assessment and collection.

Proposition Number

17

Year

1930

Document Type

Proposition

Pass/Fail

Pass

Popular Vote Results

Y: 706293; A: 75.9; N: 224252; B: 24.1

Election Type

General Election

Proposition Type

Senate Constitutional Amendment

Code Sections Affected

Added Cal. Const. art. XIII, section 18.

For Author

Will R. Sharkey, State Senator, Ninth District; Tallant Tubbs, State Senator, Nineteenth District

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