Ballot Preview: Voters Decide on Taxes, Budget and Revenue Measures

Proposals to cut taxes in order to generate job creation and to raise taxes to generate new state revenue are dominating the polls in several of the 36 states across the country where ballot measures appear. Voters also will be asked to decide on issues surrounding budgets, elections, environment, and education, among others. Missing from this year's slate of proposals is major bond funding for science and technology initiatives or R&D efforts. (Note: Ohio and Maine voters approved economic development bonds related to R&D earlier this year.) Only five states have proposed bond measures appearing on the November ballot totaling $1.9 billion, which is down significantly from 2008 when proposed bond measures totaled $18.4 billion, according to the National Conference of State Legislatures. A summary of select ballot initiatives are highlighted below.

Alaska
Proposition B allows the state to issue $400 million in general obligation bonds to build library, education and educational research facilities.

Arizona
Proposition 301 diverts funding from the Public Conservation Account in the Land Conservation Fund to the general fund, filling a $124 million hole in the current state budget. Similarly, Proposition 302 transfers the remaining balance of unexpended and unencumbered monies (more than $300 million) in the early childhood development and health fund to the general fund.

California
Proposition 23 suspends implementation of AB32 requiring major sources of emission to report and reduce greenhouse gas emissions that cause global warming until the state's unemployment drops to 5.5 percent or less for a full year.

Proposition 25 changes the legislative vote requirement to pass budgets and budget-related legislation from a two-thirds majority to a simple majority.

Colorado
Amendment 61 places restrictions on government spending prohibiting all new state government borrowing after 2010 and bars new local government spending after 2010 unless approved by voters.

Indiana
Question 1 amends the Indiana constitution to limit a taxpayer's property tax liability on homes, businesses, farms and rental property. Property taxes would be capped at 1 percent of the gross assessed value for homes and 3 percent for businesses.

Massachusetts
Question 3 reduces the state sales tax from 6.25 percent to 3 percent beginning Jan. 1, 2011. This measure is estimated to reduce state revenue by approximately $2.5 billion.

North Dakota
Measure 1 establishes the North Dakota Legacy Fund and provides for 30 percent of total revenue derived from taxes on oil and gas production be transferred to the fund. Funds could not be withdrawn until 2017 and would require a two-thirds majority approval from the legislature.

Oregon
Measure 71 establishes annual legislative sessions. Lawmakers currently meet once every two years.

Washington
Initiative 1098 would tax incomes above $200,000 for individuals and $400,000 for couples to help reduce other state taxes.