LOCAL FUNDS AND REVENUES FOR LOCAL GOVERNMENT SERVICES. INITIATIVE CONSTITUTIONAL AMENDMENT.

LOCAL FUNDS AND REVENUES FOR LOCAL GOVERNMENT SERVICES. INITIATIVE CONSTITUTIONAL AMENDMENT. Specifies funds and revenues available to cities, counties and special districts for health, safety and other services. Excludes redevelopment agencies, school or community college districts. Establishes base amount; provides annual adjustments based on cost of living and population. Prohibits Legislature and state agencies from reducing base amount of specified local governments and special districts funds and revenues available for appropriation for public health, safety or other services. Requires local governments to establish and implement financial accountability processes. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: This initiative would have the following major fiscal effects: (1) Significant restrictions on state authority over local government finances; and (2) Higher local resources than otherwise would have been the case - potentially several billions of dollars annually. Commensurate fiscal impact on the state, in the form of reduced spending on non-local government programs and/or higher state taxes