PROPOSITION 14 AUTHORIZES BONDS TO CONTINUE FUNDING STEM CELL AND OTHER MEDICAL RESEARCH. INITIATIVE STATUTE
If approved by voters, Proposition 14 authorizes $5.5 billion in state general obligation bonds to fund grants from the California Institute of Regenerative Medicine to educational, non-profit, and private entities for: (1) stem cell and other medical research, therapy development, and therapy delivery; (2) medical training; and (3) construction of research facilities. Dedicates $1.5 billion to fund research and therapy for Alzheimer’s, Parkinson’s, stroke, epilepsy, and other brain and central nervous system diseases and conditions. Limits bond issuance to $540 million annually. .
Chamber Position NO POSITION
PROPOSITION 15 SPLIT ROLL PROPERTY TAX. INITIATIVE CONSTITUTIONAL AMENDMENT.
If approved by voters, Proposition 15 would require that, beginning with the 2022–23 lien date, all commercial and industrial properties, with some limited exceptions, be reassessed to full market value, and then reassessed every three years. Exempted from this requirement would be any residential property, including rental housing, property used for production agriculture, and some small business property holdings. The measure also would exempt from taxation tangible personal property up to $500,000 per taxpayer, and all tangible personal property for certain small businesses.
Chamber position OPPOSE
PROPOSITION 19 THE HOME PROTECTION FOR SENIORS, SEVERELY DISABLED, FAMILIES, AND VICTIMS OF WILDFIRE OR NATURAL DISASTERS ACT
If approved by voters, Proposition 19 would change the rules for tax assessment transfers. In California, eligible homeowners can transfer their tax assessments to a different home of the same or lesser market value, which allows them to move without paying higher taxes. Homeowners who are eligible for tax assessment transfers are persons over 55 years old, persons with severe disabilities, and victims of natural disasters and hazardous waste contamination. The ballot measure would allow eligible homeowners to transfer their tax assessments anywhere within the state and allow tax assessments to be transferred to a more expensive home with an upward adjustment. The number of times that a tax assessment can be transferred would increase from one to three for persons over 55 years old or with severe disabilities (disaster and contamination victims would continue to be allowed one transfer).
Chamber position OPPOSE
PROPOSITION 21 EXPANDS LOCAL GOVERNMENTS' AUTHORITY TO ENACT RENT CONTROL ON RESIDENTIAL PROPERTY. INITIATIVE STATUTE.
If approved by voters, Proposition 21 amends state law to allow local governments to establish rent control on residential properties over 15 years old. Allows rent increases on rent-controlled properties of up to 15 percent over three years from previous tenant’s rent above any increase allowed by local ordinance. Exempts individuals who own no more than two homes from new rent-control policies.
Chamber position OPPOSE
REGISTER TO VOTE
What You Will Need California Voter Registration To register online you will need your California driver license or California identification card number, the last four digits of your social security number, and your date of birth.
Election Day 2020 is November 3, 2020. The deadline to register to vote is October 19, 2020
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39488 Stevenson Place, Suite 100, Fremont, California 94539
Phone: 510/795.2244 | Fax: 510/795.2240 | fmtcc@fremontbusiness.com