A new CBP report examines the impact of Proposition 1A, which will appear on the May 19 special election ballot. The measure would require the state to make annual contributions to a budget reserve, impose limits on the use of the reserve in "bad budget" years, and limit the state's ability to spend existing revenues. If Proposition 1A is approved by voters, it would give the governor unilateral authority to make mid-year spending cuts.

To read more