CHANGES LEGISLATIVE VOTE REQUIREMENT TO PASS A BUDGET, APPROVE SPENDING BILLS, OR RAISE TAXES FROM TWO-THIRDS TO A SIMPLE MAJORITY. INITIATIVE CONSTITUTIONAL AMENDMENT

Changes the legislative vote requirement necessary to pass the state budget, to approve spending bills, and to raise taxes, from Iwo-Ibirds to a simple majority. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local government: Unknown state fiscal impacts from lowering the legislative vote requirement for spending and tax increases. In some cases, the contcnt of the annuli) state budget could change and/or state tax revenues could increase. Fiscal impact would depend on the composition and actions of future Legislatures