PROP
 5

ALLOWS LOCAL BONDS FOR AFFORDABLE HOUSING AND PUBLIC INFRASTRUCTURE WITH 55% VOTER APPROVAL. LEGISLATIVE CONSTITUTIONAL AMENDMENT.

SUMMARY

Put on the Ballot by the Legislature

Allows approval of local infrastructure and housing bonds for low- and middle-income Californians with 55% vote. Accountability requirements. Fiscal Impact: Increased local borrowing to fund affordable housing, supportive housing, and public infrastructure. The amount would depend on decisions by local governments and voters. Borrowing would be repaid with higher property taxes. Supporters: California Professional Firefighters; League of Women Voters of California; Habitat for Humanity California Opponents: California Taxpayers Association; California Hispanic Chambers of Commerce; Women Veterans Alliance

WHAT YOUR VOTE MEANS

YES A YES vote on this measure means: Certain local bonds and related property taxes could be approved with a 55 percent vote of the local electorate, rather than the current two-thirds approval requirement. These bonds would have to fund affordable housing, supportive housing, or public infrastructure.

NO A NO vote on this measure means: Certain local bonds and related property taxes would continue to need approval by a two-thirds vote of the local electorate.

 

ARGUMENTS

PRO Prop. 5 shifts local spending priorities away from state government, giving local voters and taxpayers the choice and the tools to address the challenges facing their communities. Whether it's housing affordability, safer streets, more fire stations, or other community-driven projects, Prop. 5 empowers local voters to solve local problems. Vote YES.

CON Prop. 5 changes the constitution to make it easier to increase bond debt, leading to higher property taxes. Prop. 5 shifts the financial burden from the state to local communities, increasing costs for homeowners, renters, and consumers. Politicians wrote loopholes in Prop. 5 so "infrastructure" can mean just about anything.

FOR ADDITIONAL INFORMATION

FOR
Yes on Prop. 5
www.YesOnProp5.org
AGAINST
Protect Local Taxpayers
info@VoteNoProp5.com
VoteNoProp5.com

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