Should the state create a trust fund by selling two billion one hundred million dollars ($2,100,000,000) in general obligation funds to fund twenty-one types of housing
programs--including multifamily, individual and farmworker housing?
- Creates trust fund to: provide shelters for battered women; clean and safe housing for low-income senior citizens; emergency shelters for homeless families with children; housing with social services for homeless and mentally ill; repairs/accessibility improvements to apartments for families and handicapped citizens; military veteran homeownership assistance; and security improvements/repairs to existing emergency shelters.
- Funded by bond issue of two billion one hundred million dollars ($2,100,000,000).
- Makes cities and counties eligible to receive specified funds.
- Subjects expenditures to independent audit.
- Appropriates money from state General Fund to repay bonds.
Summary of Legislative Analyst's Estimate of Net State and Local Government
- State cost of about $4.7 billion over 30 years to pay off both the principal ($2.1 billion) and interest ($2.6 billion) costs on the bonds. Payments of about $157 million per year.
- A YES vote of this measure means:
- The state could sell $2.1
billion in general obligation bonds
to support various housing
- A NO vote of this measure means:
- The state could not sell $2.1 billion
in general obligation bonds for
- Summary of Arguments FOR Proposition 46:
- Proposition 46 provides emergency
shelters for battered women,
affordable housing for seniors, low-income
families, homeless shelters
with social services; paid out of
existing state resources without
raising taxes; endorsed by AARP,
Congress of California Seniors,
League of Women Voters of
California, California Chamber of
Commerce, California State
Full Text of Argument In Favor,
- Summary of Arguments AGAINST Proposition 46:
- This bond will provide $2.1 billion
for housing projects, but will cost
taxpayers approximately $3.36
billion to pay off. It will provide
only miniscule benefits to firsttime
homebuyers and will do
NOTHING to remove the bureaucratic
and regulatory barriers to
affordable housing throughout
Full Text of Argument Against,
- Contact FOR Proposition 46:
- Julie Snyder
Yes on Proposition 46/Housing California
926 J Street, Suite 1400
Sacramento, CA 95814
- Contact AGAINST Proposition 46:
- No contact information
Secretary of State
Legislative Analysts's Office
League of Women Voters - Analysis
League of Women Voters - Background
California Voter Foundation
News and Analysis
KQED-FM Forum 88.5 San Francisco
San Diego Union Tribune
LWV Pros & Cons Public Meetings
Links to sources outside of Smart Voter are provided for information only and do not imply endorsement.
- Come to a meeting in your community where League experts discuss all state ballot propositions giving a nonpartisan analysis. Consult your Smart Voter county page for dates, times and locations.