California Proposition 2 would raise the constitutional cap on the Budget Stabilization Account from 10% to 20% of general fund tax revenues, increase mandatory deposits during high capital gains years, extend debt repayment rules through 2040, and adjust Gann Limit treatment of reserves. The measure advanced through the Legislature in late June 2026 via a two-thirds vote in both chambers after bipartisan leadership announced the Save for California’s Future Act. Voter guides show institutional support from groups including firefighters and business organizations, with no formal opposition arguments filed. Trader pricing at roughly 68% Yes reflects the measure’s legislative origin, limited organized resistance, and alignment with long-standing calls for larger reserves amid revenue volatility, though final passage on November 3 still depends on turnout and campaign messaging in the closing weeks.