CA SR113

Commemorates June 6, 2018, as the 40th anniversary of Proposition 13's approval by California voters on June 6, 1978.

Reaffirms Senate support for Proposition 13, which established a 1-percent property tax cap and requires a two-thirds vote for tax increases by the Legislature and local governments.

Notes that property tax revenue has increased 1000 percent since 1979 while remaining stable during economic downturns, and that families owning homes for 10 years have saved an average of $60,000 in property taxes.

Highlights that Proposition 13 provided tax certainty for homeowners, prevented seniors from losing homes due to rising property taxes, and sparked a nationwide tax revolt movement adopted by nearly half of U.S. states within five years.

States that Proposition 13 maintains over 60 percent voter support and provides revenue stability for local governments, which have received a nearly $40 billion increase in revenue since 1978.