Assembly constitution amendment 30. Adds Section 12 ½ to Article XIII of Constitution. Authorizes taxation of notes, debentures, shares of stock, bonds, solvent credits or mortgages, not now exempt, in manner, at rate or proportionate to value, different from other property, and in lieu of all other property taxes thereon, requiring equitable distribution thereof to political subdivision wherein levied; rates not to exceed those on other property not exempt, and when fixed by legislature altered only by two-thirds vote of each house; property taxed for state purposes under Section 14 of same article unaffected hereby.
Popular Vote Results
Y: 429031; A: 53.8; N: 368014; B: 46.2
Assembly Constitutional Amendment
Code Sections Affected
Added Cal. Const. art. XIII, section 12 1/2.
William Seward Scott, Assemblyman Twenty-seventh District; Frank C. Weller, Assemblyman Sixty-first District
Frank L. Coombs, Assemblyman Eleventh District
TAXATION California Proposition 9 (1924).