Opponents Mobilize Against California 'Car Tax' Increase

Finestone, Deborah
June 2003
Bond Buyer;6/24/2003, Vol. 344 Issue 31663, p1
Trade Publication
California's move to increase its vehicle license fee and boost revenue by $4.2 billion in the fiscal year 2003 will be challenged by republican lawmakers and anti-tax advocates. The state will resume assessing the fee at 2% of the car's value. Since revenue from the fee had been directed to cities and counties, the state agreed to backfill the revenue not being collected from the fee out of its general fund. The state no longer had sufficient revenue to offset the VLF, as it had to pay off $9.5 billion of revenue anticipation notes issued in 2002.


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