ⓘ 2012 California Proposition 30

                                     

ⓘ 2012 California Proposition 30

Proposition 30, officially titled Temporary Taxes to Fund Education, is a California ballot measure that was decided by California voters at the statewide election on November 6, 2012. The initiative is a measure to increase taxes to prevent US billion cuts to the education budget for California state schools. The measure was approved by California voters by a margin of 55 to 45 percent.

The proposition 30 provides for personal income tax increase for seven years in California residents with an annual income over$250.000 us, work will be carried out retrospectively from 1 January 2012 until the end of 2018. This measure also provides for increases in the state sales tax by 0.25% for four years.

Increase the sales tax expired as scheduled at the end of 2016. Higher income tax rates were extended for 12 years by the end of 2030 with the passage of proposition 55 in 2016.