3,895,071 / 57.5% Yes votes ...... 2,880,506 / 42.5% No votes

See Also: Index of all Propositions

• 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.
  

• 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.
  

Meaning of Voting Yes/No

A YES vote of this measure means:

The state could sell $2.1 billion in general obligation bonds to support various housing programs.

A NO vote of this measure means:

The state could not sell $2.1 billion in general obligation bonds for these purposes.

• Full Text
• Impartial Analysis from the Legislative Analyst

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 Sheriffs Association.

Full Text of Argument In Favor, Rebuttal

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 California.

Full Text of Argument Against, Rebuttal

Contact FOR Proposition 46:

Julie Snyder
Yes on Proposition 46/Housing California
926 J Street, Suite 1400
Sacramento, CA 95814
916-447-0531
info@prop46yes.org
http://www.prop46yes.org

Contact AGAINST Proposition 46:

No contact information was provided.

Secretary of State

• Voter Information Guide for Proposition 46
• Cal-Access Campaign Finance Information

• Detailed analysis

League of Women Voters - Analysis

• Easy Reading Voter Guide for Proposition 46
• Easy Reading Voter Guide - Download the guide in English, Spanish, Chinese, Vietnamese, or Russian
• Pros & Cons of Proposition 46
• Pros & Cons of Proposition 46 (Spanish) - in PDF
• In Depth Analysis of Proposition 46 - for those who want more

• Learn More About Bond Financing - Do you know the difference between Revenue bonds and General Obligation bonds?
• Background Information on Ballot Measures - Learn about California Law-Making and Your Vote
• Criteria for Evaluating Ballot Propositions

• Top Ten Contributors - who gave the most to each side of this measure?
• Summary of Proposition 46 - includes links to some news articles

KQED-FM Forum 88.5 San Francisco

• Discussion and call-in on Prop 46 - original broadcast on 10/31 (opens in new window)

• $2.1 billion bond would aid lower-income renters, buyers 10/13/02

• Home sweet home; Prop. 46 would aid affordable housing 10/10/02

LWV Pros & Cons Public Meetings

• 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.