State Budget Enactment. Initiative Constitutional Amendment.

STATE BUDGET ENACTMENT. INITIATIVE CONSTITUTIONAL AMENDMENT. Requires Governor submit zero based balanced budget , as defined, to Legislature for fiscal year. Limits budget act spending, reserves, to total revenues, other resources, projected by Finance Commission as available for expenditure in fiscal year. Requires fiscal year budget bill enactment by midnight, June 30, preceding fiscal year. Provides Governor, Members of Legislature, forfeit two days\u27 salary, benefits, living expenses for each day budget bill not timely enacted; prohibits retroactive payment. Provides Governor, Members of Legislature, not eligible for re-election at next general, special election if zero based balanced budget not enacted as required. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: In any year budget not enacted by June 30, possible state General Fund savings from $100,000 to several million dollars due to salary/expense forfeiture, possible county costs ranging from $10 to $20 million, potentially as high as $40 million, for special elections, if required to replace disqualified candidates for legislature, governor. Would impose minor to several million dollars annual administrative costs on state agencies to implement zero-based budgeting