Proposing amendment to Oregon Constitution relating to initiative petitions.

Proposes amendment to Oregon Constitution to prohibit Legislative Assembly from amending or repealing initiative law for period of two years after enactment, unless two-thirds of members in both houses of Legislative Assembly vote to amend or repeal initiative law. Prohibits amendment or repeal of initiative law by Legislative Assembly during two-year period from being referred to electors. Refers proposed amendment to people for their approval or rejection at next regular general election.