2 - State reserve funds

If it passes

This proposed constitutional amendment, placed on the ballot by Gov. Jerry Brown and the Legislature, is intended to help the state save money and repay debt. Under this measure, state officials would set aside at least 1.5% of the general fund every year.

Half of the money would be placed in a "rainy day" account as a cushion against economic downturns. Half would be used to pay debt and other long-term obligations, such as retirement benefits for public workers.

Money could be withdrawn only when the governor and the Legislature declared a budget emergency. California has a reserve account already, but it's empty, and there are no strict rules on depositing or withdrawing funds.

Endorsements

Los Angeles Times Editorial

Support

  • John A. Pérez, Assembly Speaker Emeritus
  • Edmund G. Brown Jr., Governor
  • Allan Zaremberg, President California Chamber of Commerce
  • Dr. Michael Kirst, President California State Board of Education

Oppose

  • Cushon Bell, Secretary Educate Our State
  • Cinnamon O’Neill, Chapter Director Educate Our State
  • Kilty Belt-Vahle, Parent Volunteer Educate Our State
  • Katherine Welch, Director Educate Our State
  • Hope Salzer, Chapter Director Educate Our State
  • Jennifer Bestor, Research Director Educate Our State

Tracking the money

$20.4 million has been raised

Support
$20,401,013
Oppose
$0

Search contributions

Contributions by state

Support

$1
$10K
$100K
$500K
$1M
+
State Amount %
California $19,159,330 93.9%
Other $1,241,684 6.1%

Oppose

$1
$10K
$100K
$500K
$1M
+
State Amount %
California $0 0.0%
Other $0 0.0%

Contributions by special interest

Sector Support Oppose Total
Political campaign $6,986,875 $0 $6,986,875
Financial services $2,194,150 $0 $2,194,150
Union $1,902,006 $0 $1,902,006
Agriculture $1,791,085 $0 $1,791,085
Foundations $1,528,170 $0 $1,528,170
Technology $1,417,600 $0 $1,417,600
Healthcare $1,342,800 $0 $1,342,800
Energy $881,000 $0 $881,000
Homemaker $499,000 $0 $499,000
Arts & entertainment $380,100 $0 $380,100
Construction $323,500 $0 $323,500
Manufacturing $248,300 $0 $248,300
Consulting $210,668 $0 $210,668
Real estate $188,000 $0 $188,000
Education $151,100 $0 $151,100
Retail $125,000 $0 $125,000
Food & liquor $56,000 $0 $56,000
Native American tribes $55,000 $0 $55,000
Retired $21,100 $0 $21,100
Automotive $13,000 $0 $13,000
Waste $500 $0 $500

Top contributors in support

# Name Contributions# Total
1. Brown for Governor 2014 7 $5,196,529
2. Sean Parker, self employed 1 $1,000,000
3. l. john doerr, kleiner perkins caufield & byers 2 $875,000
4. California Alliance For Jobs - Rebuild California Committee 3 $533,750
5. The Nature Conservancy 7 $522,774
6. California Hospitals Committee On Issues, Sponsored By CAHHS 2 $500,000
7. doris f. fisher, homemaker 2 $499,000
8. Laborers Pacific Southwest Regional Organizing Coalition PAC 1 $400,000
9. robert j. fisher, pisces, inc. 2 $400,000
10. john j. fisher, pisces, inc. 2 $351,000

Note: Committees campaigning for or against a proposition can contribute money to other committees working to support or oppose any of the propositions on the November ballot.

Credits: Lily Mihalik, Maloy Moore, Anthony Pesce.