Proposition 63—“Millionaires Tax”

In November 2004, over six million voters (53.7% of the 11.5 million votes cast) in the state of California voted to assess a 1% tax on taxable personal income above $1 million. This is projected to raise an estimated $800 million a year to fund expanded health services for mentally ill children, adults, and seniors. This website features information about the initiative, including the text of the legislation and a review of the arguments offered by initiative proponents and opponents.