A petition calling for a new referendum on local special tax increases, headed by Kilroy Realty, will appear on the California ballot in 2024 after being certified by the Secretary of State. The petition received the required 1 million signatures, and is an attempt to block Measure ULA, the new Los Angeles property transfer tax on commercial and residential transactions over $5 million.

The so-called “Taxpayer Protection Act”, sponsored by Kilroy and the California Business Roundtable, would require a two-thirds approval for state laws that impose any new local special tax increases. Measure ULA passed with an overwhelming 58% to 42% margin, but would still fall short of the votes needed should the new referendum pass. 

Additionally, the 2024 ballot proposition is worded in a way that would void Measure ULA because it specifies that any local special tax imposed after January 2022 with less than two-thirds voter approval would not be in compliance. 

Measure ULA, which takes effect in April and could generate more $1 billion annually for LA’s special housing fund according to city officials, is already facing a lawsuit filed by the Apartment Association of Greater Los Angeles and the Howard Jarvis Taxpayers Association.