Beginning in 2024, requires that cap-and-trade revenues accumulate in a reserve fund until the Legislature, by a two-thirds majority, authorizes use of the revenues. Fiscal Impact: Beginning in 2024, potential temporary increase in state sales tax revenue, ranging from none to a few hundred million dollars annually, and possible changes in how revenue from sale of greenhouse gas emission permits is spent.
Legislative Vote Results
FINAL VOTES CAST BY THE LEGISLATURE ON ACA 5 (PROPOSITION 69) (RESOLUTION CHAPTER 30, STATUTES OF 2017) Senate: Ayes 28 Noes 10; Assembly: Ayes 56 Noes 24
LEGISLATIVE CONSTITUTIONAL AMENDMENT
EDMUND G. BROWN JR., Governor ALLAN ZAREMBERG, President California Chamber of Commerce CHAD MAYES, California State Assembly member
SENATOR BEN ALLEN 26th District ASSEMBLYMEMBER TODD GLORIA 78th District HELEN L. HUTCHISON, President League of Women Voters of California
Rebuttal Against Author
MICHAEL D. SHROUT, President California State Firefighters’ Association ANJA RAUDABAUGH, Chief Executive Officer Western United Dairymen
REQUIRES LEGISLATIVE SUPERMAJORITY VOTE APPROVING USE OF CAP-AND-TRADE RESERVE FUND. LEGISLATIVE CONSTITUTIONAL AMENDMENT. California Proposition 70 (2018).