Proposition 12 would allow the state to sell $900 million in general obligation bonds to provide money for the Cal-Vet Home Loan Program, which provides low-interest loans for California veterans to buy homes and farms. This would allow the state to pull money away from the state General Fund to pay off the bonds if loan payments from participating veterans are not enough to pay off the debt.
California's independent Legislative Analyst says it would cost California $1.8 billion to pay off the principle and interest of the 30-year bonds ($59 million per year), with an estimation that costs would be paid by participating veterans.
My vote: Yes.
Why: I'm cool with this. Several measures like this have passed in the past decades and they haven't resulted in any significant cost to California. It’s an extension of an already extant program. Not a single state senator voted against it and there are actually no pro/con websites to speak of. This seems like a good, reasonable thing to do that doesn't carry much risk.