Voters reject Proposition 23

Proposition 23, the business-backed attempt to suspend California’s landmark law curbing greenhouse gas emissions, was handily rejected Tuesday by voters.

With nearly a fourth of California’s 24,845 precincts reporting, Proposition 23 was rejected by 59 percent to 41 percent of the electorate, out of more than 3.8 million ballots cast.

The hotly contested measure would have halted AB 32 until California’s jobless rate dropped to 5.5 percent for four consecutive quarters. California’s current jobless rate is about 12.5 percent, and hasn’t been at 5.5 percent since 2007. According to state figures, California’s unemployment rate was 5.5 percent for four or more quarters during three periods since 1976.

Backers, led by Texas-based oil companies, provided the bulk of the $10.6 million that was raised on behalf of the measure. The largest single donation was $3 million from Valero.

Opponents, including an array of major environmental groups, raised more than $23 million to fight Proposition 23.