San Fernando Valley PTA members and parents will hold a rally at 4 p.m. Thursday at Beeman Park in Studio City in support of Proposition 38, the income tax increase on the November ballot that would benefit education.
Beeman Park is at 12621 Rye St.
Supporters say the measure would guarantee more than $500 million over the next 12 years for schools in the PTA's 31st District.
Proposition 38 would increase personal income tax rates for 12 years for annual earnings over $7,316 using a sliding scale from 0.4 percent for the lowest individual earners to 2.2 percent for individual earning more than $2.5 million.
During the first four years, 60 percent of revenues would go to schools from kindergarten through 12th grade, 30 percent to repaying state debt and 10 percent to early childhood programs. Thereafter, 85 percent of revenues would go to schools from kindergarten through 12th grade and 15 percent to early childhood programs.
The increase would be roughly $5 billion in the 2012-13 fiscal year, $10 billion in the 2013-2014 fiscal year and tending to increase over time, according to an estimate from the Legislative Analyst's Office and Director of Finance Ana J. Matosantos.
"Proposition 38 will transform our public schools and provide all students with access to the programs and services they need to succeed," said California State PTA President Carol Kocivar.
Jason Kinney, a co-chairman of the campaign against Proposition 38 called it "the wrong tax at the wrong time."
Unlike Proposition 30, passage of Proposition 38 "will require a pulling of the triggers in the budgets, massive cuts to schools, shortening of the school year and schools won't see a dime of new money out of this measure until 2014," Kinney told City News Service.
"It makes a problem much worse, before it gets better," Kinney said.
Under terms of Proposition 38, "money probably wouldn't be received by schools until late 2013, beginning of 2014. In the meantime, we wouldn't fill a $6 billion hole written into this year's state budget," Kinney said.
Nathan Ballard, the communications director for the Yes on 38 campaign, said "no matter how much Jason Kinney hyperventilates, the fact is because Proposition 38 brings in such a huge cash infusion to our schools, it is highly unlikely that the Legislature will cut even a dime from schools. In fact, the schools will have more funding than ever before."
State Superintendent of Public Instruction Tom Torlakson told The Sacramento Bee he believes the Legislature and school districts would change their trigger cut arrangements if Proposition 38 passes.
"If there is a pot of money generated outside of the budget deal, it still addresses priorities the governor and Legislature say they care about," Torlakson told The Bee. "So I think the Legislature would find a way to bridge the budget gap knowing the money is coming in."
Proposition 30, which is backed by Gov. Jerry Brown, would increase the sales tax by a quarter-cent on the dollar for four years and raise the income tax on annual earnings over $250,000 for seven years.
Eighty-nine percent of the revenues from Proposition 30 would be devoted to schools from kindergarten through 12th grade and the other 11 percent to community colleges. The measure would also guarantee funding for public safety services realigned from state to local governments.
Proposition 30 would generate an additional $6 billion in state tax revenues from the 2012-2013 through 2016-17 fiscal years, according to an estimate from the state's Legislative Analyst's Office and Matosantos. Smaller amounts would be generated in the 2017-18 and 2018-19 fiscal years.
If both measures are approved by voters, the one getting the most yes votes would prevail.
Studio City Patch attended some of the early informational meetings about the proposition, click here for more info.