During last year's budget debate, most Democrats pushed for a hike in income taxes on the wealthy and a quarter-cent increase in the sales tax. Proposals for new taxes on gasoline, alcohol, forest products and a variety of other items were also submitted.
Along with lowering the number of legislative votes needed to pass a budget and raise taxes, the Budget Accountability Act includes other reforms intended to break the gridlock in Sacramento and shed more light on the budget process for the public.
They include docking the pay of lawmakers when a budget is late and printing information about the budget on state voter guides, as well as creating a website where voters could go to find out how their representatives voted on the budget.
The initiative also would require that the state set aside money for a rainy day reserve.
The reserve requirement is similar to one in Proposition 58, which is part of the governor's economic recovery package also on Tuesday's ballot.
Supporters of the Budget Accountability Act, however, say their provision would more tightly restrict lawmakers' use of the reserve. And unlike Proposition 58, the Budget Accountability Act would require legislators to pay into the reserve only when the state is flush with cash.
