California Proposition 53 (2016)

Proposition 53 is a California ballot proposition on the November 8, 2016 ballot regarding requiring voter approval for issuing revenue bonds exceeding $2 billion.

Arguments in favor of the measure state that it would require politicians to provide estimates of how much a project would cost, as well as give voters a say before taking on large debt. The measure would also follow similar practice as with general obligation bonds, which currently require voter approval before the state can use them to pay for a project. Arguments against the measure state that it negatively impacts local control over projects by allowing statewide votes on smaller community projects. Additionally, the term project is not defined and it is unclear which projects might be affected by the measure.[1][2] Cities, counties, schools districts, and community college districts are specifically excluded from the measure’s definition of “state”.[3] However, the California Legislative Analyst's Office warns that the local governments sometimes partner with the state government to get lower interest rates on government bonds, which could require statewide voter approval of local projects.[3]

It is unlikely that many projects would be affected by the measure,[2] though it could affect large-scale projects such as California High-Speed Rail and California Water Fix and Eco Restore.[4]

Proponents have spent $4.6 million fighting for the measure, all of it from California Delta farmer Dino Cortopassi and his wife.[3] Cortopassi has been an outspoken critic of the planned Water Fix tunnels underneath the delta.[3]

Opponents have spent $10.9 million dollars fighting against the measure, with the top donor being $4.1 million from Governor Jerry Brown’s 2014 campaign funds.[3] Other top opposition donors include the California Democratic Party, a labor coalition, venture capitalist John Doerr, and the San Manuel Band of Mission Indians.[3]

The measure is opposed by the editorial boards of the Los Angeles Times,[5] the San Francisco Chronicle,[6] and The Sacramento Bee.[7] Firefighters oppose the measure, warning that there’s no exemption for disaster funding.[3] Cities and local water districts are also opposed.[3]

Proposition 53 was rejected by voters in the November general election, with 51.5% voting no.[1]

References

  1. 1 2 "California Proposition 53, Voter Approval Requirement for Revenue Bonds above $2 Billion (2016)". Ballotpedia. Retrieved 12 November 2016.
  2. 1 2 "Official Voter Information Guide" (PDF). California Secretary of State. Retrieved 25 September 2016.
  3. 1 2 3 4 5 6 7 8 Orr, Katie. "Election 2016: Proposition 64". KQED News. Retrieved 20 October 2016.
  4. ↑ Skelton, George. "Proposition 53 is a ballot measure Gov. Brown hates, but it's one voters should love". Los Angeles Times. Los Angeles Times. Retrieved 25 September 2016.
  5. ↑ The Editorial Board of the Los Angeles Times (15 September 2016). "The problem Proposition 53 aims to solve is speculative, but the damage it could inflict is very real". Los Angeles Times. Retrieved 20 October 2016.
  6. ↑ The Editorial Board of the San Francisco Chronicle (31 August 2016). "A one-man crusade isn't the way to run California's finances". San Francisco Chronicle. Retrieved 20 October 2016.
  7. ↑ The Editorial Board of the Sacramento Bee (6 September 2016). "Beware of quick fix offered by wealthy farmer's initiative". The Sacramento Bee. Retrieved 20 October 2016.

External links

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