November 30, 2012
Voters in November passed Proposition 30, an initiative that will raise new state revenue through temporary increases in the state sales tax and the personal income tax on those who earn $250,000 or more per year. It was sponsored by Gov. Jerry Brown and is part of the 2012-13 budget approved by state lawmakers.
The University of California Board of Regents endorsed Prop. 30. If the initiative had failed, UC was scheduled to receive a budget reduction of $250 million this year and lose an additional $125 million next year.