Secretary of State No.
DOMESTIC ENERGY: INITIATIVE. Authorizes: Helium-cooled, barge-mounted nuclear reactors in marinas, offshore supertanker terminals, and pipeline to ocean to stabilize Salton Sea; condemnation marina lands; use utility funds to inform public; minimum fifteen percent earnings on utility ownership. Requires: Public Utilities Commission develop radioactive waste storage facility; and state guarantee of and tax exempt financing. Creates Energy Committee of executives of power utilities whose acts prevail over Public Utilities Commission and Legislature and whose consent is condition of amendment of this initiative by two-thirds vote of Legislature. Land Use and Nuclear Power Liability and Safeguards Act initiative ineffective if this initiative receives higher vote. If this Domestic Energy Initiative is adopted, undefined additional financing will be required: from state sources, a one-time increase in capital expenditures in excess of Five Hundred Million Dollars ($500,000,000); ongoing annual state savings of Three Million Dollars ($3,000,000); and an annual increase in local agency costs of approximately Three Million Dollars ($3,000,000).
Mr. Paul A. Randolph, Suite 25, El Paseo 816 State Street, Santa Barbara, California 93101
Failed to Qualify
Domestic Energy California Initiative 123 (1975).