november 2018 Ballot Initiatives
Proposition 1 - Veterans and Affordable Housing Bond Act of 2018
- This bill would enact the Veterans and Affordable Housing Bond Act of 2018, authorizing the issuance of a four billion dollar bond, pursuant to the State General Obligation Bond Law.
- Three billion dollars would be used to finance various existing housing programs, as well as infill infrastructure financing and affordable housing matching grant programs.
- One billion dollars would be used to provide additional funding for existing programs for farm, home, and mobile home purchase assistance for veterans.
Proposition 2 - No Place Like Home Act of 2018
- A Yes vote would approve the No Place Like Home initiative, which will assist local communities in preventing and addressing homelessness.
- The proposition would authorize the Legislature to appropriate funds from the Mental Health Services Fund to the Supportive Housing Program Subaccount.
- Two billion dollars will subsequently be used to support the construction of housing that will prevent and address homelessness amongst those experiencing mental illness.
Proposition 6 - Voter Approval for Future Gas and Vehicle Taxes
- Proposition 6 repeals taxes set in place by SB 1, which increased vehicle fuel taxes and vehicle fees in order to fund transportation improvements.
- The proposition also requires that future vehicle fuel taxes or vehicle fees to be approved by the electorate. Should Proposition 6 pass, the State would lose $2.9 billion in annual revenues between 2018-19
- The loss in revenues would grow ti $4.9 billion between 2020 - 2021. Additionally, the condition of roadways throughout the State may worsen due to reduced funds for maintenance.
Proposition 10 - The Local Rent Control Intitiative
The Los Angeles Business Council (LABC) would like to express its strong opposition to the proposed Affordable Housing Act that would be placed on the statewide November general election ballot as we believe it will further constrain much needed housing supply to address the state’s housing crisis.
Housing affordability throughout California has reached a crisis point, with polling showing that the issue is a top concern for residents and causing a significant decrease in quality of life across all economic levels.
A repeal of Costa Hawkins under the Affordable Housing Act attempts to address a symptom of our housing affordability crisis, rather than the root cause -- a lack of supply driving up rental and homeownership costs.