Proposition Summary

VETERANS' BOND ACT OF 1996. This act provides for a bond issue of four hundred million dollars ($400,000,000) to provide farm and home aid for California veterans. Costs offset by payments from participating veterans. Summary of Legislative Analyst's Estimate of Net State and Local Government Fiscal Impact: General Fund costs of about $700 million to pay off both the principal ($400 million) and interest (about $300 million) on the bonds; costs offset by payments from participating veterans. Average payment for principal and interest of about $28 million per year for 25 years.

Proposition Number

206

Year

1996

Document Type

Proposition

Pass/Fail

Pass

Legislative Vote Results

Final Votes Cast by the Legislature on SB 852 (Proposition 206) Assembly - Ayes, 74; Noes, 0 -- Senate - Ayes, 29; Noes, 0

Popular Vote Results

Y: 4993677; A: 53.6; N: 4330354; B: 46.4

Election Type

General Election

Proposition Type

Bond Act

For Author

Don Rogers, State Senator, 17th District; Jim Morrissey, Assemblyman, 69th District; Gray Davis, Lieutenant Governor, State of California

Against Author

Joseph B. Miller, Retired Air Force Officer, Sacramento; Willard Michlin, Real Estate Broker, Glendale; Ted Brown, Member, State Executive Committee, Libertarian Party of California

Rebuttal Author

Jon Petersen, Treasurer, Libertarian Party of California; Joseph B. Miller, Retired Air Force Officer, Sacramento; Ted Brown, Insurance Adjuster/Investigator, Pasadena

Rebuttal Against Author

Don Rogers, State Senator, 17th District; Jim Morrissey, Assemblyman, 69th District; Gray Davis, Lieutenant Governor, State of California

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