Amends process for redistricting Senate, Assembly, Congressional and Board of Equalization districts. Requires panel of three retired judges to adopt redistricting plan for Senate, Assembly and Board of Equalization districts when measure passes and, thereafter, following each national census. Exempts Congressional districts until after 2010 national census. Panel must consider legislative, public proposals/comments and hold public hearings. Redistricting plan becomes effective immediately when adopted by judges\u27 panel and filed with Secretary of State. Specifies time for California Supreme Court review of redistricting plan; if plan ruled invalid, process must be repeated. Summary of estimate by Legislative Analyst and Director of Finan...