To view the text for this law, please visit the official site for California legislative information at http://www.leginfo.ca.gov/bilinfo.html.
Initiative Constitutional Amendment and Statute
Permits Legislature to enact budget and budget-related tax and appropriation bills with 55% vote rather than 2/3 vote currently required. Requires that Legislature, Governor permanently lose salary, expenses for each day budget is late. Requires that Legislature stay in session until budget is passed. Requires budget summary in state ballot pamphlet and link to Internet website with legislators' voting records on budget and related taxes. Requires 25% of certain state revenue increases to be deposited in reserve fund, which cannot be use to increase spending. Summary of estimate by Legislative Analyst of fiscal impact on state and local governments: Varying state fiscal impacts from lowering the legislative vote requirement for spending and tax increases related to the budget - including potentially significant increases in state tax revenues and spending in some years. Fiscal impacts would depend on the composition and actions of future Legislatures.