A California initiative has qualified for the November 2026 ballot, aiming to restrict local revenue-raising measures. - Raises vote threshold for local special taxes from simple majority to two-thirds.
- Prohibits charter cities from approving new real estate transfer taxes beyond 0.11%. - Overturns existing voter-approved property taxes that don't comply within two years.
- Estimated annual revenue loss of up to $2 billion for local governments. The measure, proposed by John Coupal, will be certified on June 25, 2026, unless withdrawn.