OFFICIAL TITLE AND SUMMARY
Prepared by the Attorney General

Proposition 56

STATE BUDGET, RELATED TAXES, AND RESERVE. VOTING REQUIREMENTS. PENALTIES.
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 be deposited in reserve fund, which cannot be used to increase spending.

Summary of Legislative Analyst's Estimate of Net State and Local Government Fiscal Impact:

• This measure would have varying state fiscal impacts from lowering the legislative vote requirement for budget-related spending and tax increases - including changes in spending and potentially significant increases in state tax revenues in some years. Fiscal impacts would depend primarily on the composition and actions of future Legislatures.