In 1978, an underhanded tax law was passed to let huge corporations get away with paying artificially low commercial taxes.
Forty years later, Proposition 13 has drained our state’s finances and deteriorated our public services.
Billionaires and huge multinational corporations have raked in billions that once funded our schools, health clinics, parks and other vital services. Our public education system used to be the best in the nation – now it is among the worst.
By 2019, this loophole will cost Santa Clara County alone over $1 billion every year.
This year we can do something about it. California voters will have the chance to finally close this corporate loophole and make big businesses and billionaires pay their share – but to get this on the ballot, we need to gather 900,000 signatures statewide by April 24, 2018.
Every single signature we can get helps us towards our goal of reclaiming this funding from the deep pockets of major corporations to help fund a state with a world-class public education system and better health clinics, roads, parks, libraries and other public services.
This measure will only affect corporate properties benefiting from this brazen tax loophole. It would not affect homeowners, small businesses or agricultural properties.