Has that concern been placated, or what??? It sure turned me against this proposition completely!!!
Ok FOG724... I gotcher ping, right here!!! (grin)
I didn't see that in the LAO's analysis; ccg was quoting the OC Register.
I couldn't find the exact language to support it, although I agree with Amerigomag's interpretation:
The OC Register said the Governor would have sole authority to raise taxes. While he could propose to raise taxes as a solution in his "proclamation", I couldn't find anything to support the "sole authority" comment.
Below is from the "Live Within Our Means Act"
(g) (1) If, following the enactment of the budget bill for the 200405 fiscal year or any subsequent fiscal year, the Governor at the end of any quarter determines that, for that fiscal year, General Fund revenues have fallen by a rate of at least one and one-half percent on an annualized basis below revenues as estimated by the Department of Finance or if, following the enactment of the budget bill for the 200607 fiscal year or any subsequent fiscal year, the Governor determines that, for that fiscal year, the balance of the Budget Stabilization Account will decline to below one-half of the balance in the account available at the beginning of the fiscal year, the Governor may issue a proclamation declaring a fiscal emergency and shall thereupon cause the Legislature to assemble in special session solely for that purpose. The proclamation shall identify the nature of the proposed legislation to remedy the fiscal emergency.