STATE BUDGET. PENALTIES FOR GOVERNOR AND LEGISLATURE IF BUDGET DEADLINES NOT MET. INITIATIVE CONSTITUTIONAL AMENDMENT.

Provides that the Governor and Legislature will be automatically removed from office if the Legislature fails to approve budget by June 15th or the Governor fails to sign a budget by June 30th. Requires that 25% of the salaries owed to the Governor and each Legislative member be withheld until a budget is completed for following year. Prohibits officials removed from office for failure to pass a budget from being elected or appointed to state office for two years following removal. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local government: Increase in state and local election costs in any year in which the Governor and all 120 members of the Legislature are terminated when the budget process is not completed on time. These costs could potentially exceed $100 million in any such year. Unknown state fiscal impacts from changes in the content of the annual budget as a result of the measure\u27s provisions related to a late budget