A resolution to propose to the people of the State of California an amendment to the Constitution of the State, by amending, repealing, and adding Section 12 of Article IV thereof, relating to the state budget.

The California Constitution requires the Governor to submit to the Legislature, within the first 10 days of each calendar year, a budget for the ensuing fiscal year containing itemized statements for recommended expenditures and estimated revenues. If the recommended expenditures exceed the estimated revenues, then the Governor is required to recommend the sources from which additional revenues should be provided. This measure would, instead, require, if the recommended expenditures exceed the estimated revenues in the Governor's budget, that the Governor make specific revenue proposals or proposals for specific spending reductions, or both, to balance expenditures with estimated revenues in the ensuing fiscal year. This measure would also require the Governor, commencing in 2013, to submit to the Legislature, concurrent with the submission of the annual budget for the ensuing fiscal year, a statement of intent regarding the budget for the following fiscal year that projects the estimated expenditures and revenues for that fiscal year. If the estimated expenditures exceed the estimated revenues in the above-described statement of intent regarding the following fiscal year, this measure would require the Governor to make specific revenue proposals or proposals for specific spending reductions, or both, to balance expenditures with the estimated revenues for that fiscal year.