Full Text of Proposition

What does it do? Says that money earned from sales of surplus state property should be used to pay off the Economic Recovery Bonds that were approved in March 2004. Once the bonds are paid off, the sale money goes into the general fund.

How I plan to vote: Yes

Why? Normally, I vote against propositions that earmark specific revenues for specific purposes, because I think that one of the reasons California can't balance is budget is that the vast bulk of our revenue is already set aside by law for something or other - there's no discretion. However, this is an earmarking that explicitly expires when the bonds are paid off, and it will save the state some money by helping pay off some of our huge honking debt faster. Even the argument against the proposition only says again that it "doesn't go far enough" because it doesn't require the state government to sell the property. Sheesh.