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   CA Proposition 58 - California Balanced Budget Act

ELECTION INFORMATION

Container

Balanced Budget Act

Race Type

Referendum

Filing Deadline

12/30/2003 3:00 pm

Polls Open

3/2/2004 9:00 am

Polls Close

3/2/2004 10:00 pm

Term Starts

1/20/2005 12:00 pm

Term Ends

1/20/9999 12:00 pm

Database Record

Posted 6/17/2006, Updated 8/23/2010

Table

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NARRATIVE

The California Balanced Budget Act. * Requires enactment of a balanced budget where General Fund expenditures do not exceed estimated General Fund revenues. * Allows the Governor to proclaim a fiscal emergency in specified circumstances, and submit proposed legislation to address the fiscal emergency. * Requires the Legislature to stop other action and act on legislation proposed to address the emergency. * Establishes a budget reserve. * Provides that the California Economic Recovery Bond Act is for a single object or work. * Prohibits any future deficit bonds. Summary of Legislative Analyst's Estimate of Net State and Local Government Fiscal Impact: * Unknown net state fiscal effects, which will vary year by year and depend in part on actions of future Legislatures. * Reserve provisions may smooth state spending, with reductions during economic expansions and increases during downturns. * Balanced budget and debt limitation provisions could result in more immediate actions to correct budgetary shortfalls.


DEBATES

EVENTS

NEWS

Date

Category

Headline


MAP OF THIS ELECTION

 


RESULTS OF THIS ELECTION

 

Yes
(YES)
Announced 3/2/2004

3,961,724
70.97%

 

No
(NO)
Announced 3/2/2004

1,620,349
29.03%

 

Source for election returns: California Secretary of State http://vote2004.ss.ca.gov/Returns/prop/00.htm


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