CA ACAX21

Directs the Secretary of State to withdraw Assembly Constitutional Amendment No. 4 (2009-10) from the November 4, 2014 ballot

Creates a Budget Stabilization Account requiring the Controller to transfer 1.5% of estimated General Fund revenues annually starting in fiscal year 2015-16, with additional transfers based on capital gains tax revenues exceeding 8% of total tax proceeds

Establishes a Public School System Stabilization Account to reserve funds for school and community college district support when minimum Proposition 98 funding obligations fall below specified levels, commencing with fiscal year 2015-16

Requires the Director of Finance to provide annual multi-year revenue and expenditure estimates (four fiscal years) to the Legislature within 10 days of budget submission, proposed adjustments, and Budget Bill enactment

Permits the Legislature to suspend or reduce transfers to stabilization accounts and withdraw up to 50% of Budget Stabilization Account funds upon the Governor's proclamation of a budget emergency, with specified conditions and limitations