ACA 20: Save for California’s Future Act.

<p> <div style="font-family: Arial, sans-serif; line-height: 1.6; color: #333;"> <p><strong>Proposed Constitutional Amendment Overview</strong></p> <p>This measure proposes changes to the California Constitution regarding state finance, specifically affecting the Budget Stabilization Account, public school funding, and state spending limits.</p> <p><strong>Changes to the Budget Stabilization Account</strong></p> <p>Currently, the state must transfer 1.5% of estimated general fund revenues to the Budget Stabilization Account. This amendment would alter that requirement for fiscal years 2027 through 2039. Instead of a flat 1.5% transfer, the state would transfer 50% of the estimated revenue plus an additional amount based on personal income tax paid on net capital gains. Specifically, 50% of the portion of capital gains taxes exceeding 8% of total revenue would be transferred, while the r…