Application of Existing 1 Percent Tax on Incomes over One Million Dollars to Homelessness Prevention Bonds

This measure authorizes California to use revenue from the existing 1% tax on incomes over $1 million to issue $2 billion in bonds for homelessness prevention housing for people needing mental health services. The measure modifies Proposition 63 from 2004, which originally required the tax revenue to be spent directly on mental health services.