Should the State Constitution be amended to change how the state pays down debt and saves money in reserves?
- Requires annual transfer of 1.5% of general fund revenues to state budget stabilization account.
- Requires additional transfer of personal capital gains tax revenues exceeding 8% of general fund
revenues to budget stabilization account and, under certain conditions, a dedicated K+14 school
reserve fund.
- Requires that half the budget stabilization account revenues be used to repay state debts and
unfunded liabilities.
- Allows limited use of funds in case of emergency or if there is a state budget deficit.
- Caps budget stabilization account at 10% of general fund revenues, directs remainder to
infrastructure.
- Long-term state savings from faster
payment of existing debts.
- Different levels of state budget reserves,
depending on economy and decisions by elected officials.
- Smaller
local reserves for some school districts.
- A YES vote on this measure means:
- Existing
state debts likely would be paid
faster. There would be new
rules for state budget reserves.
Local school district budget
reserves would be capped in
some years.
- A NO vote on this measure means:
- Rules
for payment of state debts,
state budget reserves, and local
school district reserves would
not change.
- Summary of Arguments FOR Proposition 2:
- Proposition 2 establishes
a STRONG RAINY
DAY FUND in the State
Constitution that will
force the Legislature and
Governor to save money
and pay down debts, which
will shield TAXPAYERS
from UNNECESSARY TAX
INCREASES and PROTECT
SCHOOLS from devastating
cuts. BOTH Democrats and
Republicans SUPPORT
Proposition 2.
- Summary of Arguments AGAINST Proposition 2:
- Vote NO on 2 to
PROTECT SCHOOLS.
Proposition 2 hides a
DANGEROUS financial time
bomb that will LIMIT districts'
ability to save.
Proposition 2
helps to keep California
ranked 50th
in the nation
in per pupil
spending. Don't
trust Sacramento. Get facts
from parents, not politicians at
http://www.2BadForKids.org.
- Contact FOR Proposition 2:
- Tom Willis
Yes on Proposition 2
2355 Broadway #407
Oakland, CA 94612
(510) 210-5001
Info@CaliforniaRainyDayFund.com
http://www.CaliforniaRainyDayFund.com
- Contact AGAINST Proposition 2:
- Educate Our State
6114 La Salle Avenue, #441
Oakland, CA 94610
(510) 500-5147
2BadForKids@EducateOurState.org
http://www.2BadForKids.org
|
|
Official Information
Secretary of State
Campaign Finance Data
VotersEdge
- Funding Summary for Prop 2
- the most complete information: everything on this page plus funding, news articles, endorsements, ads. From MapLight and the Smart Voter team of LWV California Education Fund
- Cal-Access
- Details of committee campaign finance filings submitted to the Secretary of State.
Nonpartisan Information
League of Women Voters
Events
Pros & Cons: Santa Clara County
Pros & Cons: Alameda County
- Oct. 27, 7:00 to 9:00 pm, Fremont Main Library, 2400 Stevenson Blvd., Fremont
News and Analysis
KQED Public Radio
KQED News Election Watch
This election is archived. Any links to sources outside of Smart Voter may no longer be active. No further links will be added to this page.
|
Links to sources outside of Smart Voter are provided for information only and do not imply endorsement.
|