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What Is California's Proposition 13? Why Has It Created Problems

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What is California's Proposition 13? Why has it created problems for the state budget?


Definitions:

Private Sale

is a transaction where goods, assets, or shares are sold directly from one party to another without public auction or market trading.

Incidental Damages

Expenses or costs that arise indirectly from a breach of contract or other wrongdoing, which may be recoverable under the law.

Breach

The violation or non-fulfillment of a legal obligation, contract, or agreement.

Expenses

Monetary outlays or expenditures that individuals, businesses, or other entities incur during their operations, which may include costs related to goods, services, operations, or investments.

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