FEES. VOTE REQUIREMENT. Repeal. STATE BUDGET. PENALTIES AND RESERVE. INITIATIVE CONSTITUTIONAL AMENDMENT.

FEES. VOTE REQUIREMENT. REPEAL. STATE BUDGET. PENAL TIES AND RESERVE. INITIATIVE CONSTITUTIONAL AMENDMENT. Requires two-thirds vote of Legislature, instead of current majority vote, to enact fees exceeding reasonable cost of regulating an activity, or fees to monitor, study or mitigate the effects of an activity without imposing significant regulatory obligation. Repeals any such fee in 5 years, unless reenacted by two-thirds vote. Excludes certain assessments and fees from requirements. Provides that legislators and Governor lose salaries and expenses for each day budget is not passed after deadline. Requires 25% of certain state revenue increases be deposited in Prudent State Reserve Fund. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: Potentially significant decrease in state revenues from certain regulatory fees, depending upon future legislative actions. Potentially higher state budget reserve in some years than would otherwise have occurred