Governor set to sign bill that would place budget reform measure on 2012 ballot

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It’s never to early to start thinking about the 2012 election. Gov. Arnold Schwarzenegger is scheduled to place a measure on the state’s next ballot Wednesday when he signs AB 1619.

The bill, which was a product of the state’s record-long budget negotiations, would amend the state’s Constitution to create a ‘rainy day budget stabalization fund’ that would require unexpected state windfalls to be deposited into the reserve account. That money could be used to help plug budget gaps during economic downturns.

We already know of one ballot measure that is scheduled be before voters in 2012. A proposal to change the state’s term-limits law missed the deadline for the November ballot and has qualified for the next scheduled election, which, for now at least, is slated for June 2012.

There is one caveat: If the next governor calls a special election before June 2012, both measures would be on that special-election ballot. Jerry Brown has hinted he may call such an election if he is the state’s next governor.

-- Anthony York in Sacramento