Rock the Vote: what the november election has in store for CPAs.

• Author: Allen, Bruce C.

Californians will be voting for contested races in the upcoming November eleetion--and weigh in on important, timely statewide initiatives. You can check out the initiatives and candidates that will be on the November ballot by reviewing the official Voter Cuide on the Secretary of State's website: www.voterguide.sos.ca.gou.

Here are a few highlights:

Water Bond Initiative (Prop 1)

The state's lawmakers reached a bipartisatt agreement in Nugust NVI1C11 1.11e Ztpprovvd a $7.5 on water bond initiative lOr Calilornians to vote on this November. With the efreets of the drought still being felt, this water hi trid differs from those apprmed in the past bccause it liwuscs on water storage and 117 otiglu protection than yvater conservation.

Approximately $2.7 billion has been all cated to the construction of dams, reservoirs and other water storage solunons, and 51.5 billion is wt aside to protect and restore the state's rivers, lakes and watersheds. Smaller amounts have been promised to fund groundwater cleattup, sustainabilitV, drought preparedness, water recycling and floor managemcin. This is the end resul1 of many hoursoc.e.: mte between the Democrat and Republican legislaurs.

Rainy Day Fund Initiative (Prop 2/ACA 1)

The Legislature passed the Budget Acc, min incivase the potential saygs in Calilirnia's "rainy dav lund from 5 percent u) ID percent of' the general Fund. This initiative also would require that half of the revenue be used to pay down existing state debts and ensure that the rest of the revenues be used for emergencies or budget deficits. Proponents argue that Prop 2 will help stabilize California's budget swings. Those opposed argue the increase limits local funding control.

Proposition 45

This would require the require the insurance commissioner's approval before an insurer is able to change its rates, or anything else that would affect the charges associated with health care for everyone the insurer provides insurance to in California.

Proposition 46

This proposition would raise the price cap on medical malpractice lawsuits against doctores from $250,000 to potentially more than $1 million, This initiative would also mandate drug and alcohol testing of doctors, with all positive test results reported to the California Medical Board. Prop 46 is a contentious issue because it opens the door to potential liability issues for multiple professions. The Trial Court lawyers have endorsed Prop 46.

Proposition 47

Prop 47 would reduce...