Top Income Tax Brackets. Reinstatement. Revenues to Local Agencies. Initiative Statute. Official Title and Summary prepared by the Attorney General

• Retroactively reinstates 10% and 11% tax rates, respectively, on taxpayers with taxable income over $115,000 and $230,000 (current estimates), and joint taxpayers with taxable income over $230,000 and $460,000 (current estimates).
• Requires Controller to apportion revenue from reinstated tax rates among counties.
• Requires counties to allocate that revenue to local government agencies based on each local agency's proportionate share of property taxes which must be transferred to schools and community colleges under 1994 legislation.
• Prohibits future reduction of local agency's proportionate share of property taxes.

• Annual increase in state personal income tax revenues of about $700 million, with about half the revenues allocated to schools and half to other local governments.

Argument in Favor of Proposition 217

Rebuttal to Argument in Favor of Proposition 217

Argument Against Proposition 217

Rebuttal to Argument Against Proposition 217