California Proposition 3

PROVIDES PERMANENT FUNDING FOR SCHOOLS AND HEALTH CARE BY EXTENDING EXISTING TAX ON HIGH INCOMES. INITIATIVE CONSTITUTIONAL AMENDMENT. Makes permanent existing voter-approved tax rates for individuals earning over $371,000 (adjusted annually for inflation). Allocates tax revenues to public education. Fiscal Impact: Maintains $5 billion to $15 billion of annual state income tax revenue by making a temporary tax increase on high-income earners permanent instead of letting it expire in 2031. Supporters: California Teachers Association; CA School Nurses Organization; California State PTA; Planned Parenthood Affiliates of CA Opponents: California Taxpayers Association; Family Business Association of California; California Hispanic Chambers of Commerce