Requires Legislative Supermajority Vote Approving Use Of Cap-And-Trade Reserve Fund
California Ballot Measure - Proposition 70
Election: June 5, 2018 (Primary)
Outcome: Failed
Categories:
EnvironmentGovernment Budget and Spending
Legislative Branch
Taxes
Summary
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.
Resources
Official Summary
Source