Amends State Constitution\u27s redistricting process. Three-member panel of retired judges, selected by legislative leaders, will adjust boundaries of Senate, Assembly, and Board of Equalization districts; Legislature will adjust Congressional district boundaries. Panel to adopt redistricting plan when measure passes and again after each national census. Panel must consider legislative and public proposals/comments and hold public hearings. Panel\u27s redistricting plan subject to voter approval. If panel fails to unanimously approve proposed redistricting plan, or if voters reject plan, the Legislature adjusts Senate, Assembly, and Board of Equalization districts. Summary of estimate by Legislative Analyst and Director of Finance of fiscal...