Rethinking California's Reserve Policy

Apr 10, 2025 - The increase could be phased in over time: 20  percent to take effect immediately after the next statewide election, 25  percent in 2030, and increasing by 5  percent every five years until the cap reaches a maximum of 50  percent in 2055.
https://lao.ca.gov/Publications/Report/5028

The 2021-22 Budget: The Governor’s Proposition 2 Proposals

Apr 26, 2021 - Second, Proposition  2 created new requirements that the state spend a minimum amount each year, until 2030, to pay down specified debts. As shown in Figure  1, Proposition  2 has two avenues for making reserve deposits and paying debt.
https://lao.ca.gov/Publications/Report/4418