House Bill No. 303 Summary

• Initiative sponsors must propose a funding source for implementing the measure and include a fiscal impact statement summary when circulating petitions, though these are non-binding and not formally part of the initiative.

• Initiative petitions may begin circulation upon receiving both the fiscal impact statement from the division of financial management and the official ballot title from the secretary of state, extending 18 months from that date or until April 30 of the election year, whichever is earlier.

• The division of financial management must prepare an unbiased fiscal impact statement within 10 working days of receiving the certificate of review, describing projected changes in state and local government revenues, costs, expenditures, and indebtedness.

• Fiscal impact statement summaries must not exceed 100 words and shall be circulated with petitions during signature gathering, included in the voters' pamphlet, and printed on the official ballot.

• Each petition signature sheet must be attached to a full copy of the measure and a copy of the fiscal impact summary, with signatures limited to 20 per sheet and signatures required from only one county per sheet.