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Proposition 2
Proposition 2
California · November 3, 2026
What this measure does
Increase the Budget Stabilization Account (BSA) cap from 10% of general fund revenue to 20% and excluding deposits into the BSA from the Gann Limit
A yes vote means
California can save twice as much money in its emergency fund and those savings won't count toward the state's spending cap.
A no vote means
California keeps its current 10% emergency savings limit and the rules about how savings count toward spending limits stay the same.
Simple explanation
California is like a household that keeps a rainy day fund—right now they can save up to 10% of their yearly money. This measure lets them save up to 20% instead, and it also means money going into savings won't count against a separate spending limit called the Gann Limit. It's basically giving the state more room to build up its emergency savings.
Who's for it, who's against it
Support
- Gov. Gavin Newsom (D)
- Senate President pro Tempore Monique Limón (D)
- Senate President pro Tempore Monique Limón (D-21)
- Speaker of the Assembly Robert Rivas (D)
- Speaker of the Assembly Robert Rivas (D-29)
- State Asm. Avelino Valencia (D)
- State Asm. Jesse Gabriel (D)
- State Sen. John Laird (D)
- State Sen. Melissa Hurtado (D)
Source: Ballotpedia