Allan Zaremberg, President and CEO of the California Chamber of Commerce provided the following comments on these six proposed tax-related measures: 

“Most everyone understands that a robust private sector will be our ticket out of this economic meltdown. Several measures currently proposed for voter approval, including three backed by government employee unions, would raise taxes on California’s employers and discourage investment here, killing more jobs and damaging recovery. 

“History very clearly shows that government programs and employee benefits thrive with a strong economy. These union proposals that pile more taxes onto business are not in their members’ best interests. Not only will they kill private sector jobs, they will ultimately kill government jobs too.  

“With employment and the economy top of mind for voters, Californians are not in the mood for more taxes. California has already imposed over $10 billion in tax increases on the business community over the past two years. Making it easier for the Legislature to raise taxes will hurt our already hurting working families.”   

Repeal Corporate Tax Loopholes Act — OPPOSE

Similar to the CalChamber-opposed proposal called the “Corporate Taxes” initiative (referenced below), this measure would repeal recently-enacted tax benefits, the elective single sales factor, net operating loss (NOL) carryback, and tax credit sharing. It would additionally repeal the recently-enacted expansion of the net operating loss carryover from 10 to 20 years. 

The Local Voter Control and Government Accountability Act — OPPOSE

Removes Proposition 13 protections from property owners and imposes a “split roll” tax treatment for commercial properties. If enacted, this measure would remove the one percent cap for property taxes for the purpose of raising funds to serve and repay General Obligation bonds for public infrastructure. Additionally, the measure would reduce the two-thirds vote requirement for all special taxes to 55 percent, including parcel taxes (based upon per parcel rather than based upon value).

Protect Homeowners and Close Corporate Tax Loopholes Act — OPPOSE

Imposes a split roll tax treatment for commercial property and requires all non-residential commercial properties to be immediately reassessed according to “full cash value,” without regard to whether change of ownership has occurred. It also requires reassessment at current fair market value at least every three years. 

Education and Taxpayer Fairness Act — OPPOSE

Imposes a split roll tax treatment and increases taxes on commercial properties. The measure would increase the one percent tax rate for “non-residential” properties to 1.55 percent in order to fund education. 

“Corporate Taxes” Initiative — OPPOSE

The “Corporate Taxes” initiative proposes to repeal several changes in the law that were adopted as part of the two most recent budget packages enacted by the state, in fall 2008 and February 2009: 1) net operating loss carryback; 2) tax credit sharing; and 3) elective single sales factor.

Sinclair Fix Initiative — SUPPORT

Reduces burdensome tax-like fees on businesses by reversing the overly-broad, vague definition of “fee” set forth in the landmark California Supreme court case Sinclair Paint v. State Board of Equalization.