IMPOSES ADDITIONAL REQUIREMENTS FOR VOTERS TO APPROVE LEGISLATURE\u27S TWO-THIRDS VOTE ON STATE TAXES AND TO APPROVE LOCAL LEVIES AND CHARGES WITH LIMITED EXCEPTIONS. INITIATIVE CONSTITUTIONAL AMENDMENT

Imposes new requirement for voters to approve state tax measures following a two-thirds vote by the Legislature. Exempts short-term emergency taxes from voter-approval requirement. Increases legislative vote requirement to two-thirds for state levies and charges with limited exceptions, and for certain taxes currently subject to majority vote. Changes Constitution to require voters to approve, either by two-thirds or majority, local levies and charges with limited exceptions. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local government: Potentially major decrease in state and local revenues and spending, depending upon future actions of the Legislature, local governing bodies, and voters