Proposition 53: Revenue Bonds. Statewide Voter Approval. Initiative Constitutional Amendment.

(The information below was taken from the California Secretary of State's website.)

Analysis | Arguments & Rebuttals | Text of Proposed Law (PDF)

SUMMARY
Requires statewide voter approval before any revenue bonds can be issued or sold by the state for certain projects if the bond amount exceeds $2 billion. Fiscal Impact: State and local fiscal effects are unknown and would depend on which projects are affected by the measure and what actions government agencies and voters take in response to the measure's voting requirement.

WHAT YOUR VOTE MEANS
A YES vote on this measure means: State revenue bonds totaling more than $2 billion for a project that is funded, owned, or managed by the state would require statewide voter approval.

A NO vote on this measure means: State revenue bonds could continue to be used without voter approval.

ARGUMENTS
PRO Proposition 53 requires voter approval for state megaprojects costing over $2 billion in state revenue bonds—like the bullet train. Doesn't impact local projects. Increases transparency so taxpayers know the true cost. Holds politicians accountable and stops blank checks. If taxpayers have to pay, they should have a say!

CON Prop. 53 erodes local control by requiring statewide vote on some local infrastructure projects. Empowers voters in faraway regions to reject your community's needs. Prop. 53 jeopardizes water supply, bridge safety, other repairs. No exemption for emergencies/disasters. California Professional Firefighters, cities, counties, Association of California Water Agencies urge No on 53. www.NoProp53.com

FOR ADDITIONAL INFORMATION
FOR
Yes on 53—Stop Blank Checks
925 University Ave.
Sacramento, CA 95825
(916) 500-7040
Info@StopBlankChecks.com
www.YESon53.com

AGAINST
No on Prop. 53—Californians to Protect Local Control
info@NoProp53.com
NoProp53.com