Senate Constitutional Amendment No.5. Amends Sections 14 4/5, and 16 of Article XIII of Constitution. Places State Compensation Insurance Fund in same position as private insurance companies with regard to tax liabilities and exemptions. Provides that insurance companies shall not be exempt from payment of motor vehicle registration, license and operation fees. Requires banks to pay motor vehicle fees whenever federal law permits imposition thereof upon national banks.
Popular Vote Results
Y: 3461937; A: 84.5; N: 633282; B: 15.5
Senate Constitutional Amendment
Code Sections Affected
Amended Cal. Const. art. XIII, sections 14 4/5 and 16.
Randolph Collier, Senator, 2nd District
TAXATION: INSURANCE COMPANIES AND BANKS California Proposition 15 (1952).