Increases Income Taxes on Teachers, Nurses, Police Officers, Firefighters, and Other Public Employees for Pension Income. Initiative Constitutional Amendment.

Increases income tax rate by 15% for annual pension income between $100,000 and $149,999, and 25% for annual pension income over $150,000, on income received by teachers, nurses, police officers, firefighters, and other public employees from the California Public Employees\u27 Retirement System and the California State Teachers\u27 Retirement System. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local government: Possible increase in state revenues from a new tax on certain public employee pensions. Over the long run, these revenue gains would be offset by decreases in other state and local revenues and increases in some state and local costs