Proposition 2: Save for California's Future Act
Source: electionresults.sos.ca.gov
What does this measure do?
Supports: Government Efficiency, Government Spending Reduction
California would let its main rainy-day fund grow to 20% of state tax revenue, up from 10%, and keep making extra debt payments through 2040 instead of 2030. In a downturn the state would have more savings to protect services and cover its bills.
Read the official ballot measure (PDF)
Proposed by: California Legislature (Assembly Constitutional Amendment 20, Assemblymember Jesse Gabriel)
Gabriel is an Encino Democrat who chairs the Assembly Budget Committee. He and Gov. Newsom want a bigger rainy day fund to protect schools and health care in downturns.
Source: gov.ca.gov
A YES vote means
California would build larger budget reserves and continue extra debt payments through 2040.
A NO vote means
The rainy-day fund cap would stay at 10%. Required extra debt payments would still end in 2030.
No financial records found for this ballot measure.
Sources: sos.ca.gov · lao.ca.gov