State Budget.

STATE BUDGET. INITIATIVE CONSTITUTIONAL AMENDMENT. Provides that if budget bill for next fiscal year is not enacted on or before June 30, current budget act, along with operative statutes which amend or revise it, shall become temporary operating state budget, effective July 1, and remain in effect until budget enacted. Requires Governor, Members of Legislature, forfeit salary, travel, living expenses from July 1 until budget enacted; prohibits retroactive payment of salary and expenses. Extends submittal of Governor\u27s proposed budget to Legislature to March 1 of current year. Requires that Governor recommend revenue sources if proposed budget expenditures exceed estimated revenues. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: Could result in state costs or savings of up to hundreds of millions of dollars in any year in which a budget is delayed past June 30. Costs or savings would depend on future actions by the Governor and the Legislature