Attorney General No.

SA95RF0023

Secretary of State No.

679

Description

GIFTS. POLITICS. TAXATION. INITIATIVE STATUTE. Imposes fifteen percent tax on gifts to candidates, elected officeholders, and entities, including nonprofits, which engage in political or lobbying activities. Applies to persons or entities which solicit, accept or use gifts, including money, to influence candidates, officeholders, voters, or ballot measures. Violations are tax fraud. Penalties include minimum fines of $5,000 for individuals and $10,000 for entities and banishment from the ballot. Exemption for gifts up to $250 for local candidates, measures, from individual local donors. Exemption unavailable for candidates, measures in statewide elections. May be amended only by majority vote at general election. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: Establishes a new state tax, resulting in unknown additional tax revenues for the state, which would be offset by the costs of collection of the new tax by the Franchise Tax Board, and the development of a system of enforcement. The costs would probably be less than the revenues generated by the new tax; thus the measure would result in unknown net revenues to the state, possibly millions of dollars annually.

Proponents

Thomas R. Carlson, 3620 Highway 111, Brawley, Ca 92227 (619) 351-0244

Date

11-21-1995

Document Type

Initiative

Qualified

Failed to Qualify

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