It was a constitutional amendment that would have increased the annual contributions to the state's rainy day fund.
[1] The proposition was part of Assembly Constitutional Amendment 1 (Third Extraordinary Session), which was authored by Republican assemblymen Roger Niello of Fair Oaks and Anthony Adams of Hesperia.
Once the target size was reached, any other revenues would have been used to pay off Economic Recovery Bonds established by Proposition 57 in 2004.
[1] If Proposition 1B also passed, then 1.5% of revenues would be subtracted from the rainy day fund annually until $9.3 billion was paid to public education.
That bill had a provision that stated if Proposition 1A passed, the tax increases would continue for another two years.