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Measure Details

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:
Environment
Government Budget and Spending
Legislative Branch
Taxes

Yes
2,226,029
(35.35%)

Argument For

No
4,071,376
(64.65%)

Argument Against

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.

Measure Text

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