Proposition 70

Greenhouse Gas Reduction Reserve Fund

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Beginning in 2024, requires that cap-and-trade revenues accumulate in a reserve fund until the Legislature, by a two-thirds majority, authorizes use of the revenues. Proposition 70 is a legislative constitutional amendment.

Fiscal Impact: Beginning in 2024, potential temporary increase in state sales tax revenue, ranging from none to a few hundred million dollars annually, and possible changes in how revenue from sale of greenhouse gas emission permits is spent.

Semi-Official Election Results:

No votes: 2,362,545 [63.6%]

Yes votes: 1,351,913 [36.4%]


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