This measure allows the state to issue $12.3 billion of general obligation bonds for construction and renovation of K-12 school facilities ($10 billion) and higher education facilities ($2.3 billion).
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This measure permits the Legislature to pass the state budget and tax increase measures related to the budget by a 55 percent vote. Other changes to the budget process would be made.
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This proposition puts before the voters authorization for the state to issue a bond of up to $15 billion to deal with its budget deficit. The bond authorized by this measure would be used in place of the deficit-financing bond authorized last year by the Legislature
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This proposition amends the Constitution, making changes related to (1) the enactment and maintenance of a balanced state budget, (2) the establishment of specific reserve requirements, and (3) a restriction on future deficit-related borrowing.
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