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Breakdown: Proposition 1

Here's an in-depth breakdown of Proposition 1, which will be on the election ballot on Nov. 6

Posted: Oct 30, 2018 12:39 PM
Updated: Nov 7, 2018 12:40 PM

DECISION: 

YES - 3,069,936 votes, 53 percent
NO - 2,687,333 votes, 47 percent

**REMINDER: These are the unofficial results from the midterm elections. All official results must be certified by the Secretary of State.

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The election is Nov. 6 and Action News Now is providing a breakdown for Propositions so that you can be prepared to vote in the 2018 Midterm Elections.

Prop 1 - What is it about?

Proposition 1 is the first of four bond measures on the November ballot and it aims to create more affordable housing in the state. 

It allows the state to sell $4 billion in general obligation bonds to help build housing including more rental properties as well as helping with down payments on low-income and middle-class home buyers. 

Prop 1 focuses on but is not limited to helping veterans, farm workers, seniors and people with disabilities. 

Opponents of the proposition ask why the taxpayers in California should take on debt especially when "the housing shortage stemming from the influx of millions to California requires far bigger solutions." 

Advocates say that even though this won't fix our housing crisis in California, it is a step in the right direction and will ultimately help some find more affordable housing. 

What would happen if passed? 

The $4 billion is a bond, which means the taxpayers would pay for the interest over time, but that also means that it isn't a tax either. It would, however, raise the cost to repay bonds averaging about $170 million annually over the next 35 years.

What does my vote mean?

YES: The state sells $4 billion in bonds to fund veterans and affordable housing 

NO: The state would not be allowed to sell the bonds 

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