Prop 2: Changes California Budget Process Limiting State Spending to Increase "Rainy Day" Budget Stabilization Fund

Put on the Ballot by Legislature

68.7% YES
31.3% NO

Summary

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

What Your Vote Means

A YES Means Existing state debts likely would be paid faster. There would be new rules for state budget reserves. Local school district budget reserves would be capped in some years.
A NO Means Rules for payment of state debts, state budget reserves, and local school district reserves would not change.

Arguments

PRO Proposition 44 establishes a STRONG RAINY DAY FUND in the State Constitution that will force the Legislature and Governor to save money and pay down debts, which will shield TAXPAYERS from UNNECESSARY TAX INCREASES and PROTECT SCHOOLS from devastating cuts. BOTH Democrats and Republicans SUPPORT Proposition 44.
CON Vote NO on 44 to PROTECT SCHOOLS. PToposition 44 hides a DANGEROUS financial time bomb that will Limit districts' ability to save. Proposition 44 helps to keep California ranked 50th in the nation in per pupil spending. Don't trust Sacramento. Get facts from parents, not politicians at www.44not4kids.org.
Prop 1
Prop 45