Ballot Propositions Proposition: 1A Stabilizes State Budget. Reforms California Budget Process. Limits State Spending. Increases “Rainy Day” Budget Stabilization Fund. May 19, 2009      Proposition    HTML    PDF This measure would make major changes to the way in which the state sets aside money in one of its “rainy day” reserve accounts and how this money is spent. As a result, Proposition 1A could have significant impacts on the state’s budgeting practices in the future. The measure would tend to increase the amount of money set aside in the state’s rainy day account by increasing how much money is put into this account and restricting the withdrawal of these funds. If this measure is approved, several tax increases passed as part of the February 2009 budget package would be extended by one to two years. State tax revenues would increase by about $16 billion from 2010-11 through 2012‑13.

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