BILL ANALYSIS Ó SB 867 Page 1 ( Without Reference to File ) SENATE THIRD READING SB 867 (Atkins) As Amended August 11, 2014 2/3 vote. Urgency SENATE VOTE : Vote not relevant SUMMARY : Designates ACA 1 X2 (John A. Pérez), Chapter 1, Statutes of the 2013-14 Second Extraordinary Session as "Proposition 2" on the November 4, 2014 General Election ballot. ACA 1 X2 makes changes to the state's budget reserve policy and was chaptered on May 16, 2014, and would be Proposition 44, absent this change. This bill also includes language requiring the Secretary of State and local elections officials to revise any references to Proposition 44 in any analysis, argument, or statement to Proposition 2. FISCAL EFFECT : Incidental costs that can be absorbed within existing budget authority. COMMENT : This bill would designate ACA 1 X2, commonly referred to as the "Rainy Day Fund" measure, as Proposition 2. Other legislation pending before the Legislature proposes to designate the 2014 Water Bond as "Proposition 1." Other ballot measures currently qualified for the ballot would not be renumbered by this bill. Existing law requires bond measures to be placed at top of the ballot. Therefore, in the event a new Water Bond measure is not passed, and the existing Water Bond (Proposition 43) remains on the ballot, then the ballot will be numbered: 43, 2, 45, and so on. Analysis Prepared by : Christian Griffith / BUDGET / (916) 319-2099 FN: 0004542 SB 867 Page 2