Terms Used In California Constitution Article IV § 12.5 - Within 10 days following the submission of a budget pursuant to ...

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Statute: A law passed by a legislature.
  

Within 10 days following the submission of a budget pursuant to subdivision (a) of Section 12, following the proposed adjustments to the Governor’s Budget required by subdivision (e) of § 13308 of the Government Code or a successor statute, and following the enactment of the budget bill, or as soon as feasible thereafter, the Director of Finance shall submit to the Legislature both of the following:

(a) Estimates of General Fund revenues for the ensuing fiscal year and for the three fiscal years thereafter.

(b) Estimates of General Fund expenditures for the ensuing fiscal year and for the three fiscal years thereafter.

(Sec. 12.5 added Nov. 4, 2014, by Prop. 2. Res.Ch. 1, 2013-14 2nd Ex. Sess.)

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