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Veterans' Bond Act of 1996.
Official Title and Summary prepared by the Attorney General
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Text of Proposition
VETERANS' BOND ACT OF 1996.
- This act provides for a bond issue of four hundred million dollars ($400,000,000) to provide
farm and home aid for California veterans.
- Costs offset by payments from participating veterans.
Summary of Legislative Analyst's
Estimate of Net State and Local Government Fiscal Impact:
- General Fund costs of about $700 million to pay off both the principal ($400 million) and
interest (about $300 million) on the bonds; costs offset by payments from participating
veterans.
- Average payment for principal and interest of about $28 million per year for 25 years.
Final Votes Cast by the Legislature on SB 852 (Proposition 206)
Assembly: Ayes 74 Senate: Ayes 29
Noes 0 Noes 0
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Analysis by the Legislative Analyst
Argument in Favor of Proposition 206
Rebuttal to Argument in Favor of Proposition 206
Argument Against Proposition 206
Rebuttal to Argument Against Proposition 206
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