Attorney General No.
Secretary of State No.
Exempts California residents who are 55 years old or older from paying state income and property taxes. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local government: Annual state revenue losses of $15 billion or more due to new exemptions on personal income and estate taxation. Annual local government revenue losses of $5 billion to $10 billion due to new exemptions on property taxes.
Lee W. Olson
Failed to Qualify
ELIMINATES STATE INCOME AND PROPERTY TAXES FOR ALL RESIDENTS 55 YEARS OLD AND OLDER. INITIATIVE CONSTITUTIONAL AMENDMENT California Initiative 1395 (2009).