In California, there is a proposition on the ballot for the upcoming election cycle called Proposition 5. This proposition aims to change the current requirement for local ballot measures to take out bonds. Currently, these measures need support from two-thirds of voters to pass, which has proven to be a challenging standard for local governments to meet. Proposition 5 seeks to lower this approval threshold to 55% for measures related to affordable housing and public infrastructure projects like road repair, transit improvements, and emergency response upgrades.
This proposition was placed on the ballot by the state legislature after years of efforts by legislators, including Assemblymember Cecilia Aguiar-Curry. The original version of the amendment included tax hikes but was later removed by state lawmakers. The new version also includes language prohibiting local governments from buying single-family homes for affordable housing purposes to appease the California Association of Realtors.
Supporters of Proposition 5 argue that the current supermajority requirement is undemocratic and gives a small fraction of voters the power to overrule the majority. They believe that passing this proposition would give local communities more control over funding critical projects and reduce their reliance on state or federal funding. Various organizations, including Habitat for Humanity, California Professional Firefighters, and the California Teachers Association, have endorsed Proposition 5.
On the other hand, opponents of Proposition 5 are concerned that making it easier for cities to borrow money through bonds could lead to higher property taxes. They argue that these increased costs could be passed on to property owners, renters, farmers, and consumers, ultimately raising prices for everyone. Groups like the California Chamber of Commerce and the Howard Jarvis Taxpayers Association have come out against Proposition 5.
Campaign finance disclosures show that the main committee supporting Proposition 5 has received significant contributions, including donations from Mark Zuckerberg’s family foundation and the Non-Profit Housing Association of Northern California. On the other side, the Howard Jarvis Taxpayers Association is actively campaigning against the proposition with a substantial amount of funds.
Overall, Proposition 5 aims to change the approval threshold for local bond measures in California, with supporters believing it will give communities more control over funding critical projects, while opponents are concerned about the potential impact on property taxes and costs for residents. The decision on this proposition will ultimately be in the hands of California voters in the upcoming election.
