Proposition 206

Veterans' Bond Act of 1996

Bond Act

Summary: This act provides for a bond issue of four hundred million dollars ($400,000,000) to provide farm and home aid for California veterans.

Fiscal Impact: General Fund cost of about $700 million to pay off both the principal ($400 million) and interest (about $300 million) on the bonds, with an average annual payment for 25 years of about $28 million to retire this debt; costs offset by payments from participating veterans.

A YES vote on this measure means: The state would be able to issue $400 million in general obligation bonds to provide loans for veterans' farm and home purchase (Cal-Vet) program.

A NO vote on this measure means: The state would not be able to issue bonds for this purpose.

The State Ballot Pamphlet, published by the Secretary of State, features the text, fiscal analysis, and pro/con arguments.

Official Contact Information

Contact in Support: Senator Don Rogers
State Capitol
Sacramento, CA 95814
(916) 445-5798
Attention: David Grafft
Contact in Opposition: Libertarian Party of California
1800 Market Street, Suite 16
San Francisco, CA 94102
(800) 637-1776

Related Web Sites

Support: None available to date.

Opposition: None available to date.

Neutral: None available to date.

This initiative was placed on the ballot through petition of the voters.
Source information for this material is available.
Web site additions and corrections can be made by email.


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