California Budget Perspective 2018-19

Prop. 42 would prohibit new taxes on the ownership of certain assets as well as taxes that apply retroactively. The primary intent of the measure is to invalidate Prop. 40 — the one-time billionaire tax measure also appearing on the November ballot — if it receives more votes, and it would also create … Continued

Prop. 41 would 1) impose new audit requirements for programs funded with state special taxes and 2) prohibit the collection of new state taxes that are excluded from the state’s spending limit. The primary intent of the measure is to invalidate Prop. 40 — the billionaire tax also appearing on the November ballot … Continued