Secretary of State No.
PRICE LIMITATION. INITIATIVE STATUTE. Amends Commercial Code to totally immobilize prices charged for food, services, interest rates on loans, or for sale or rental of every type of personal property beginning January 15, 1975. Prohibits any business from charging higher than lowest price charged for any item described above during 1974, with certain exceptions. Provides for price increases pursuant to stated conditions, formula and schedule; price setting for new items; hearings before Department of Industrial Relations; criminal penalties; prosecution by Attorney General; payment to informers. Permits legislative repeal or amendment after July 1, 1978. If the proposed initiative is adopted, undefined additional financing from state sources will be required in the amount of more than $15,000,000 per year.
California Foundation For Economic Justice, 76 Third Street #725, San Francisco, California 94103 Telephone: (415) 362-9210; Mr. Patrick H. O'Shaughnessy, 76 Third Street, No. 725, San Francisco, Ca 94103; Ms. Bunny Roth, 317 Tenth Street, San Francisco, Ca
Failed to Qualify
Price Limitation California Initiative 103 (1974).