The summary of the proposition as it appeared on the general election ballot: Extends by twelve years the temporary personal income tax
increases enacted in 2012 on earnings over $250,000, with
revenues allocated to K–12 schools, California Community
Colleges, and, in certain years, healthcare. Fiscal Impact:
Increased state revenues—$4 billion to $9 billion annually
from 2019–2030—depending on economy and stock
market. Increased funding for schools, community colleges,
health care for low-income people, budget reserves, and
debt payments.
Information on the language of the proposition is from the Official Voter Information Guide issued by the California Secretary of State: http://vig.cdn.sos.ca.gov/2016/general/en/pdf/complete-vig.pdf
Source for Popular Vote data: New York Times. California Proposition 55 - Extension of the Proposition 30 Income Tax Increase Initiative, New York Times (https://www.nytimes.com/elections/results/california-ballot-measure-55-extend-temp-inctax-increase) (accessed 11 Dec 2017)