For Immediate Release
December 15, 2017
BALLOT MEASURE FILED TO FUND SCHOOLS BY CLOSING
CORPORATE TAX LOOPHOLE
Coalition of PICO California, California Calls, League of Women Voters California, Advancement Project California and Evolve California files ballot measure to close Prop. 13 Corporate Tax Loophole, restoring over $11 billion every year for schools and vital local services
LOS ANGELES, CA – Today, a broad grassroots coalition led by the League of Women Voters California, PICO California, California Calls, Advancement Project California and Evolve California announced the filing of a ballot initiative to fund California schools by closing the Corporate Property Tax Loophole in Proposition 13 while continuing to guarantee protections for homeowners, residential renters, agricultural land, and small businesses. Through filing this initiative the coalition is beginning to take the necessary steps for exploration of a possible 2018 ballot initiative.
The measure, called “The California Schools and Local Communities Funding Act of 2018”, will restore over $11 billion per year to California’s schools, community colleges, health clinics, and other vital local services.
California communities are chronically underfunded, which has hurt our public schools and students the most in addition to cutting essential funding from emergency responder services, parks, libraries, health clinics, trauma centers, affordable housing, homeless services, and roads.
The California Schools and Local Communities Funding Act of 2018 would help California restore billions of dollars of funding that has been cut from our schools by closing a loophole in Proposition 13 that allows millionaires, billionaires, and big corporations to avoid billions in taxes. In addition, the proposed measure would eliminate the tax on fixtures and equipment for small businesses, and preserve all protections in Proposition 13 that currently exist for homeowners, residential renters, and farms.
Veronica Carrizales of California Calls issued the following statement upon the announcement of the filing:
“Restoring funding to create world-class schools that educate the next generation of entrepreneurs and the workforce for tomorrow’s economy is critical to California’s future. Washington D.C. is about to give billions of dollars in tax breaks to millionaires, billionaires, and corporations who are already avoiding paying billions of dollars per year in California. By closing the Corporate Property Tax Loophole, California can fund world class schools, build a stronger workforce for tomorrow and adequately fund vital local services.”
To read the full Title and Summary, click here.