2009 California Proposition 1A

Proposition 1A is a proposition that will appear on the May 19, 2009 special election ballot. It is also known as State finances. The measure was legislatively-referred to the ballot by Assembly Constitutional Amendment 1, authored by Assemblyman Roger Niello (R-Fair Oaks), by a vote of 74-6 in the Assembly and 30-8 in the state Senate.

Overview of the Proposition from the California Legislative Analysis Office:

Measure Changes the State’s Budgeting. This measure would make major changes to the way in which the state sets aside money in one of its “rainy day” reserve accounts and how this money is spent. As a result, Proposition 1A could have significant impacts on the state’s budgeting practices in the future. The measure would tend to increase the amount of money set aside in the state’s rainy day account by increasing how much money is put into this account and restricting the withdrawal of these funds.
Measure Results in Tax Increases. If this measure is approved, several tax increases passed as part of the February 2009 budget package would be extended by one to two years. State tax revenues would increase by about $16 billion from 2010-11 through 2012-13.Overview of the Proposition from the California Legislative Analysis Office:

The Legislature passed a different bill that included tax increases with the 2009-2010 budget. That bill had a provision that stated if Proposition 1A passed, the tax increases would continue for another 2 years.