Proposition Summary

DEPOSIT OF PUBLIC MONEYS IN SAVINGS AND LOAN ASSOCIATIONS. LEGISLATIVE CONSTITUTIONAL AMENDMENT. This amendment to Article XI, section 11(b) authorizes the Legislature to provide for deposit of public moneys in savings and loan associations in California as well as in banks in California. Financial impact: No direct fiscal effect--depends upon adoption of implementing legislation which could result in increased earnings on public deposits.

Proposition Number

8

Year

1976

Document Type

Proposition

Pass/Fail

Pass

Legislative Vote Results

FINAL VOTE CAST BY LEGISLATURE ON ACA 31 (PROPOSITION 8): Assembly - Ayes, 67; Noes, 1 -- Senate - Ayes, 29; Noes, 0

Popular Vote Results

Y: 3978512; A: 74.2; N: 1383010; B: 25.8

Election Type

Primary

Proposition Type

Assembly Constitutional Amendment

Code Sections Affected

Amended Cal. Const. art. XI, section 11(b)

For Author

Robert G. Beverly, Member of the Assembly, 51st District; Yvonne Brathwaite Burke, Member of Congress, 28th District; Jesse M. Unruh, State Treasurer

Against Author

John Garamendi, Member of the Assembly, 7th District

Rebuttal Against Author

Robert G. Beverly, Member of the Assembly, 51st District; Yvonne Brathwaite Burke, Member of Congress, 28th District; Jesse M. Unruh, State Treasurer

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