David Wagner reports on business and economy for the LAist and KPCC newsroom.
Should California let new housing and road bonds pass with 55% voter support, rather than today’s threshold of two-thirds?Currently, two-thirds voter approval is required to pass local bond measures that fund affordable housing and infrastructure projects in California. Prop. 5 would lower that threshold to 55%.
State analysts say that change could lead to a couple billion more dollars over many years for housing and infrastructure projects, to be recouped through higher property taxes. But, they conclude, revenue would vary across regions, and voters would have the final say on what local government bonds pass.
In the November 2000 election, California voters passed Prop. 39, a similar initiative to lower the threshold for approving education bonds from two-thirds to 55%. You can read more about that here: But we cannot do this essential work without your help. We rely on donations from readers like you to stay independent, which keeps our nonprofit newsroom strong and accountable to you.
California General Election Election Day 2024 Explain California Proposition 5 Nov. 5 General Election What Is California Proposition 5 Who Endorses California Proposition 5 Who Opposes California Proposition 5 Who Supports California Proposition 5
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