CA SCA4

Proposes constitutional amendment to require initiative measures that increase state or local government costs to identify offsetting revenues before submission to voters.

Prohibits initiatives from being submitted to electors or having legal effect unless the Legislative Analyst and Director of Finance jointly determine the measure provides additional revenues equal to or exceeding any net cost increase.

Exempts costs related to bond issuance, sale, or repayment from the revenue offset requirement.

Requires a two-thirds vote in both chambers of the Legislature to place the amendment on the ballot for voter approval.

Applies this funding requirement to all new initiative measures proposing statutes or constitutional amendments.