Requires annual transfer of state general fund revenues to budget stabilization account. Requires half the revenues be used to repay state debts. Limits use of remaining funds to emergencies or budget deficits. Fiscal Impact: Long-term state savings from faster payment of existing debts. Different levels of state budget reserves, depending on economy and decisions by elected officials. Smaller local reserves for some school districts. Note: On August 11, 2014, the State Legislature and Governor renumbered Proposition 44 to Proposition 2.
Popular Vote Results
Y:4,831,045; A:69.1; N:2,158,004; B:30.9
Legislative Constitutional Amendment
Code Sections Affected
Proposed Amendments to Articles IV and XVI of the California Constitution
John A. Pérez, Assembly Speaker Emeritus; Edmund G. Brown Jr., Governor; Allan Zaremberg, President of California Chamber of Commerce
Katherine Welch, Director of Educate Our State; Hope Salzer, Chapter Director of Educate Our State, Jennifer Bestor, Research Director for Educate Our State
Rebuttal Against Author
Dr. Michael Kirst, President of California State Board of Education
State Budget. Budget Stabilization Account. California Proposition 2 (2014).