Proposition 89, the “California Clean Money and Fair Elections Act of 2006,” slated for the November 7 ballot, provides for public funding of political campaigns. Though participation is not mandatory, the measure limits the contribution amounts for privately funded candidates. Prop. 89 also imposes new contribution limits on ballot measures. The public funding is paid for by raising corporate taxes from 8.84 percent to 9.04 percent — a hike of 0.2 percent. The measure also raises the double-digit tax rate on financial institutions from 10.84 to 11.04, a similar 0.2 percent increase.

On the November 7, 2006 ballot, California voters will have a chance to vote on the Protect Our Homes Initiative, Proposition 90, which would include significant restrictions on the ability of governments to use eminent domain for economic development purposes and to pass regulations that limit property rights. Why did Prop. 90 get on the ballot, and do California property owners really need its protections?