Senate Constitutional Amendment 35 amending Section 14 of Article XIII of Constitution. Permits public utility paying state tax to deduct from gross receipts from operation of its business any amount it pays to another public utility when that amount is included in gross receipts from which tax of latter utility is computed; with certain exceptions, subjects to state taxation exclusively, rate of two per cent upon their gross receipts from operation, companies operating motor vehicles for transportation of persons or property for compensation; increases bank stock rate; authorizes legislature to classify utilities for taxation purposes.
Popular Vote Results
Y: 197514; A: 33.6; N: 390309; B: 66.4
Senate Constitutional Amendment
Lyman M. King, State Senator Thirtieth District
STATE TAXATION California Proposition 15 (1922).