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The existing supermajority requirement for local bond approval goes back to the series of tax restrictions in California's Constitution inaugurated by the passage of Proposition 13 in 1978.
In 2000, Proposition 39 reduced the supermajority to 55% to approve taxes for local school bonds. [4] According to the California Policy Center, a conservative think tank, since Proposition 39 was passed, voters in California have decided on almost 1,150 school bond measures and have approved 911 of them. [5]
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Build America Bonds are taxable municipal bonds that carry special tax credits and federal subsidies for either the bond issuer or the bondholder. Build America Bonds were created under Section 1531 of Title I of Division B of the American Recovery and Reinvestment Act that U.S. President Barack Obama signed into law on February 17, 2009.
Proposition 1, also known as Prop 1 and Water Bond, was a California ballot proposition intended to provide $7.12 billion in bonds for infrastructure projects relating to water supply and would allocate bond revenue. It was on the ballot as a bond issue.
Data suggests it may actually be cheaper to build a new home than to buy an existing one. According to HomeAdvisor data from 2023, the average cost to build a house in the U.S. is $318,634.
Named after its legislative sponsors, the Marks-Roos Local Bond Pooling Act (California Government Code §6584-6599.1) is a law enacted by the California Legislature in 1985. [ 1 ] [ 2 ] The main purpose of this statute is to allow local California governments to work together to get financing in a way that will conceivably lower borrowing costs.
In return for the invested capital, those that buy treasury bonds will earn interest. The interest and an increase in the principal amount invested will be liable for federal income tax but local ...
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