The California Supreme Court has blocked a November ballot initiative that could have overturned the Los Angeles property transfer tax known as Measure ULA, as well as 40 other special taxes across the state.

The Taxpayer Protection and Government Accountability Act initiative sought to change the percentage of votes that proposed special taxes need to become law, increasing the threshold for approval to two-thirds of voters from the current simple majority.

The proposed law would have gone into effect retroactively, applying the two-thirds approval requirement to any special tax initiatives passed since Jan. 1, 2022.

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