Voters could decide to make it easier for counties and cities to pass bond measures to fund affordable housing and other infrastructure projects.
Proposition 5 lowers the threshold to pass these bond measures to 55% of voter approval, down from two-thirds in most cases.
The idea, according to an analysis of the measure when it was still in the legislature, is to “empower local governments to address local priorities without needing to wait for state and federal funding initiatives.” And with the 55% threshold, voters would still be required to approve bonds or special taxes before they could be levied.
The measure is backed by several cities and housing groups, including Habitat for Humanity California and Housing Crisis Action.
But several taxpayer and business groups, including the Laguna Niguel Chamber of Commerce, oppose the measure.
Garry Galles, an economics professor at Pepperdine University, said the measure “would open the door to massive new tax hikes to give Sacramento politicians what they want from property tax-payers without giving them their money’s worth in return.”
