Next Up: Budget Ballot Items

California got a budget last week. This week, attention turned to the next step, a series of ballot measures to implement portions of the budget package.

The six referendums will appear on a statewide special election ballot May 19. Backers of the ballot measures Wednesday formally announced the creation of an organization to campaign for them.

Key measures among the six are: Proposition 1A, to establish a state spending limit based on historical revenue trends, and augment the rainy-day account; and Proposition 1C, which would authorize the state to issue $5 billion of bonds secured by future revenues from the state lottery.

The recently enacted budget assumes receipt of the lottery-bond proceeds to remain in balance through fiscal 2010.

The other four budget-related measures implement smaller chunks of the final compromise that emerged last week from budget negotiations.

A seventh, unrelated measure would reclassify California’s property tax limit so that property improvements for the purpose of improving earthquake safety don’t trigger a major reassessment.

The Budget Reform Now campaign committee includes construction interests, the California Chamber of Commerce, and the California State Sheriffs’ Association.

“California’s budget roller-coaster creates instability that has far-reaching impacts on our business climate. These measures give Californians the opportunity to put into place reforms that will go a long way toward getting California’s economy moving forward again,” Allan Zaremberg, president of the California Chamber, said in a statement.

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