Prop 5

Allows Local Bonds for Affordable Housing and Public Infrastructure with 55% Voter Approval

legislative constitutional amendment

Official Summary

Allows approval of local infrastructure and housing bonds for low- and middle-income Californians with 55% vote. Accountability requirements.

Fiscal Impact: Increased local borrowing to fund affordable housing, supportive housing, and public infrastructure. The amount would depend on decisions by local governments and voters. Borrowing would be repaid with higher property taxes.

• Official CA Voter Guide Summary ; text of proposed law

• Legislative Analyst Office Analysis

• Show Me The Money

  • support: $11,223,847 - California Professional Firefighters; League of Women Voters of California; Habitat for Humanity California

  • oppose: $28,547,776 - California Taxpayers Association; California Hispanic Chambers of Commerce; Women Veterans Alliance

• Ballotpedia Summary

• Vote 411

Notes

Lowers the voting requirement needed to approve local general obligation bonds if they would fund housing assistance or public infrastructure from two-thirds to 55 percent.