California Proposition 58 (2004)

Elections in California
Federal government Presidential elections 1852 1856 1860 1864 1868 1872 1876 1880 1884 1888 1892 1896 1900 1904 1908 1912 1916 1920 1924 1928 1932 1936 1940 1944 1948 1952 1956 1960 1964 1968 1972 1976 1980 1984 1988 1992 1996 2000 2004 2008 2012 2016 Primary elections Democratic 2000 2004 2008 Republican 2000 2004 2008 2012 United States Senate elections 1950 1980 1982 1986 1988 1992 1992 (special) 1994 1998 2000 2004 2006 2010 2012 2016 Congressional elections At-Large (1849-1863) 1864 1866 1868 1870 1872 1874 1876 1878 1880 1882 1884 1886 1888 1890 1892 1894 1896 1898 1900 1902 1904 1906 1908 1910 1912 1914 1916 1918 1920 1922 1924 1926 1928 1930 1932 1934 1936 1938 1940 1942 1944 1946 12th (1946) 1948 1950 1952 1954 1956 1958 1960 1962 1964 1966 1968 1970 1972 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 11th (2006) 2008 2010 2012 2014 2016 Special elections to the House 5th (2005) 48th (2005) 36th (2007) 12th (2008) 10th (2009) 32nd (2009) 36th (2011)
State government (executive) Gubernatorial elections 1849 1851 1853 1855 1857 1859 1861 1863 1867 1871 1875 1879 1882 1886 1890 1894 1898 1902 1906 1910 1914 1918 1922 1926 1930 1934 1938 1942 1946 1950 1954 1958 1962 1966 1970 1974 1978 1982 1986 1990 1994 1998 2002 2003 (recall) 2006 2010 2014 2018 Lieutenant gubernatorial elections 1994 1998 2002 2006 2010 2014 Attorney General elections 1994 1998 2002 2006 2010 2014 Secretary of State elections 1994 1998 2002 2006 2010 2014 Treasurer elections 1994 1998 2002 2006 2010 2014 Controller elections 1994 1998 2002 2006 2010 2014 Insurance Commissioner elections 1994 1998 2002 2006 2010 2014 Superintendent of Public Instruction elections 1994 1998 2002 2006 2010 2014
State government (legislative) State Senate elections 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 Special State Assembly elections 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 Special
State government (judicial) Court of Appeals elections 1994 1998 2002 2006
Propositions 1910-1919 1911 4 7 8 1960-1969 1964 14 1970-1979 1972 11 17 1978 8 13 Briggs Initiative 1980-1989 1982 8 1986 64 65 1988 98 99 1990-1999 1994 187 1996 196 209 215 218 1998 6 10 227 2000-2009 2000 21 22 36 39 2003 53 54 2004 1A 55 56 57 58 59 60 60A 61 62 63 64 65 66 69 71 2005 73 74 75 76 77 78 79 80 2006 81 82 83 85 87 89 90 2008 91 92 93 94, 95, 96, and 97 98 and 99 1A 2 3 4 5 6 7 8 9 10 11 12 2009 1A 1B 1C 1D 1E 1F 2010-2019 2010 13 14 15 16 17 19 20 21 22 23 24 25 26 27 2012 29 30 32 34 37 38 39 2014 1 2 41 42 45 46 47 48 2016 50 Full list
Elections by year State elections Nov 1992 Nov 1994 Nov 1996 Nov 1998 Nov 2000 Nov 2002 Nov 2004 Nov 2005 Nov 2006 Feb 2008 Jun 2008 Nov 2008 May 2009 Jun 2010 Nov 2010 Jun 2012 Nov 2012 2014 Jun 2016
Los Angeles Mayoral elections 1896 1898 1900 1902 1904 1906 1909 (M) 1909 (N) 1911 1913 1915 1917 1919 1921 1923 1925 1929 1933 1937 1938 1941 1945 1949 1953 1957 1961 1965 1969 1973 1977 1981 1985 1989 1993 1997 2001 2005 2009 2013 General elections 2009 2011 2013 City Attorney elections 2009 Board of Supervisors elections 2006 2008 2010 2012
San Diego Mayoral elections 2000 2004 2005 (special) 2008 2012 2013–14 (special) 2016 City Council elections 2002 2004 2006 2008 2010 2012 2014 2016
San Francisco Mayoral elections 1975 1979 1983 1987 1991 1995 1999 2003 2007 2011 2015 Board of Supervisors elections 1977 1996 1998 2000 2002 2004 2006 2008 2010 2012 General elections Mar 2004 Nov 2004 Nov 2005 Jun 2006 Nov 2006 Nov 2007 Feb 2008 Jun 2008 Nov 2008 Nov 2009 Jun 2010 Nov 2010 Nov 2011 Jun 2012 Nov 2012 Nov 2013
San Jose Mayoral elections 2014

Proposition 58 was a California ballot proposition on the March 2, 2004 ballot. It passed with 4,535,084 (71.2%) votes in favor and 1,841,138 (28.8%) against. It was officially called the California Balanced Budget Act. It requires the state legislature to pass a balanced budget every year, which means that budgeted recurrent expenditure, including repayment of past debt, does not exceed estimated revenue. (The act does not require that capital works programs be funded out of current revenues. The California Constitution has always allowed bond issues, (state debt) for specified capital works, above a certain value. Bond measures must be approved by a statewide ballot).

The Act created a reserve fund called the Budget Stabilization Account in case of future financial trouble. It also prevented the creation of any future bonds to pay off deficits like that in Proposition 57 (the California Economic Recovery Bond Act). Proposition 58 took effect only because Proposition 57 also passed.

Propositions 57 and 58 were the centerpiece of Governor Arnold Schwarzenegger's plan to resolve California's budget problems. Schwarzenegger campaigned heavily for the both propositions' passage.

While Prop 58 was to provide balanced California budgets, the deficits continued in subsequent years, growing larger over time.

Official summary

• Requires enactment of a balanced budget where General Fund expenditures do not exceed estimated General Fund revenues.
• Allows the Governor to proclaim a fiscal emergency in specified circumstances, and submit proposed legislation to address the fiscal emergency.
• Requires the Legislature to stop other action and act on legislation proposed to address the emergency.
• Establishes a budget reserve.
• Provides that the California Economic Recovery Bond Act is for a single object or work.
• Prohibits any future deficit bonds.

Summary of Legislative Analyst's Estimate of Net State and Local Government Fiscal Impact:

• Unknown net state fiscal effects, which will vary year by year and depend in part on actions of future Legislatures.
• Reserve provisions may smooth state spending, with reductions during economic expansions and increases during downturns.
• Balanced budget and debt limitation provisions can result in more immediate actions to correct budgetary shortfalls.

References

External links

• Voter Information Guide with text of Proposition 58