Attorney General No.
SA94RF0017
Secretary of State No.
649
Description
STATE INCOME TAX. MINIMUM INCOME LEVEL. INITIATIVE CONSTITUTIONAL AMENDMENT. Amends the state constitution to exempt from state income tax the first $30,000 earned by any person or entity. Requires two-thirds voter approval before this amount may be lowered. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: This measure would result in state revenue losses of approximately $12.0 billion in 1996-97. Thereafter, $8.7 billion annually. It would also result in state savings of approximately $5.8 billion in school apportionments in 1996-97 and approximately $4.0 billion annually thereafter. Further, it would result in state savings in tax return processing of tens of millions of dollars annually, beginning in 1996-97.
Proponents
Thomas B. Neece, 9475 Laughlin Way, Redwood Valley California 95470 I(707) 485 0487
Date
6-29-1994
Document Type
Initiative
Recommended Citation
State Income Tax. Minimum Income Level. California Initiative 649 (1994).
https://repository.uclawsf.edu/ca_ballot_inits/812