California Proposition 5 would lower the votes required to pass local bond measures. Here's what to know
California voters are weighing a state ballot measure that could make it much easier for cities and counties to raise money through municipal bonds.
Proposition 5, a legislative constitutional amendment, would change how many votes it would take for a community to pass a bond – in essence, a property tax – for affordable housing and infrastructure projects.
If the measure passes, it would allow the approval of local infrastructure and housing bonds for low- and middle-income Californians with 55% of the vote. Currently, such bonds require a two-thirds majority vote to pass. Local bonds on the ballot in the November 5 election would only need 55% to pass if Prop 5 also passes.
Those in favor of Proposition 5 contend the measure will give local voters and taxpayers the choice and ability to address the housing and infrastructure challenges facing their communities and shift local spending priorities away from state government.
Proponents of the ballot measure say it would make it easier for cities and counties to approve bonds to fund affordable housing developments, safer streets, additional fire stations, or other community-driven projects.
Those who oppose Proposition 5 say the changes to the state's constitution would make it easier to increase bond debt, leading to higher property taxes. The measure would shift the financial burden from the state to local communities, which opponents say will increase costs for homeowners, renters and consumers.
Critics also argue that the language of the measure would allow for a liberal interpretation of what constitutes an infrastructure project.
