Attorney General No.

SA2005RF0010

Secretary of State No.

1094

Description

Effectively limits state and expands local government spending limits. Provides procedure if state exceeds spending limit. Requires certain state fees/charges be enacted by 2/3 vote of Legislature; currently, majority vote required. Requires certain local fees/charges be approved by local electorate; currently, no vote required. Reallocates General Fund revenue above appropriation limit. Specifies requirements for state reimbursement of local government mandates. Prohibits state issuance of general obligation bonds and revenue lease bonds if state's annual debt service exceeds 6% of General Fund. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: Potentially significant reduction in the growth in state spending beginning in 2006-07, accompanied by potential reductions in taxes over time.

Proponents

John Campbell, Jon Coupal, Larry McCarthy

Date

3-10-2005

Document Type

Initiative

Qualified

Failed to Qualify

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