Prop 5 Allows Local Bonds for Affordable Housing and Public Infrastructure With 55% Voter Approval
Allows approval of local infrastructure and housing bonds for low- and middle-income Californians with 55% vote. Accountability requirements. Fiscal Impact: Increased local borrowing to fund affordable housing, supportive housing, and public infrastructure. The amount would depend on decisions by local governments and voters. Borrowing would be repaid with higher property taxes. Supporters: California Professional Firefighters; League of Women Voters of California; Habitat for Humanity California Opponents: California Taxpayers Association; California Hispanic Chambers of Commerce; Women Veterans Alliance
A "yes" vote supports lowering the vote threshold from two-thirds (66.67%) to 55% for local bond measures to fund housing projects and public infrastructure.
A "no" vote opposes lowering the vote threshold from two-thirds (66.67%) to 55% for local bond measures to fund housing projects and public infrastructure.