Today's Law As Amended

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ACA-3 Initiatives: bond funding source.(2009-2010)

As Amends the Law Today

That Section 8 of Article II thereof is amended to read:

SEC. 8.
 (a) The initiative is the power of the electors to propose statutes and amendments to the Constitution and to adopt or reject them.
(b) An initiative measure may be proposed by presenting to the Secretary of State a petition that sets forth the text of the proposed statute or amendment to the Constitution and is certified to have been signed by electors equal in number to 5 percent in the case of a statute, and 8 percent in the case of an amendment to the Constitution, of the votes for all candidates for Governor at the last gubernatorial election.
(c) The Secretary of State shall then submit the measure at the next general election held at least 131 days after it qualifies qualifies,  or at any special statewide election held prior to that general election. The Governor may call a special statewide election for the measure.
(d) An initiative measure embracing more than one subject may not be submitted to the electors or have any effect.
(e) An initiative measure may not include or exclude any political subdivision of the State from the application or effect of its provisions based upon approval or disapproval of the initiative measure, or based upon the casting of a specified percentage of votes in favor of the measure, by the electors of that political subdivision.
(f) An initiative measure may not contain alternative or cumulative provisions wherein one or more of those provisions would become law depending upon the casting of a specified percentage of votes for or against the measure.
(g) An initiative measure that would authorize the issuance of state general obligation bonds in a total amount exceeding one billion dollars ($1,000,000,000) shall not be submitted to the electors or have any effect unless the measure expressly provides for either additional tax or fee revenues, the elimination of one or more existing programs, or both, as necessary to fully fund the repayment of the bonds, as determined by the Legislative Analyst. The new revenue source or programs eliminated shall be clearly identified in the title and summary of the measure prepared by the Attorney General.