Attorney General File #: 2007-084
College Affordability Act of 2008
December 26, 2007
This proposal adds—beginning in 2009—a new 1 percent surcharge on personal income above $1 million. This would establish a top state income tax bracket of 11.3 percent. It directs 60 percent of the new income tax revenues to the two university systems for undergraduate education. This proposal also freezes CSU resident undergraduate fees at their 2008-09 level for five years. After that period, the proposal would limit subsequent fee increases to no more than the annual percentage change in the California Consumer Price Index.
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The LAO and the Department of Finance jointly prepare an analysis of the fiscal impact of each initiative prior to it being circulated for signature gathering. Information in these letters is used by the Attorney General's Office to prepare the official "title and summary" for each measure.
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