Elections Code section 9034 requires that once proponent(s) of a proposed initiative measure have gathered 25% of the number of signatures required (currently 136,663 for an initiative statute and 218,661 for a constitutional amendment) proponent(s) must immediately certify that they have done so under penalty of perjury to the Secretary of State. 

Upon receipt of the certification, the Secretary of State must provide copies of the proposed initiative measure and the circulating title and summary to the Senate and the Assembly. Each house is required to assign the proposed initiative measure to its appropriate committees and hold joint public hearings, at least 131 days before the date of the election at which the measure is to be voted on. However, the Legislature cannot amend the proposed initiative measure or prevent it from appearing on the ballot. 

1935. (21-0042A1)
LIMITS ABILITY OF VOTERS AND STATE AND LOCAL GOVERNMENTS TO RAISE REVENUE FOR GOVERNMENT SERVICES. INITIATIVE CONTSTITUIONAL AMDENDMENT.

Summary Date: 02/03/2022 | Circulation Deadline: 08/02/2022 | Signatures Required: 997,139 - (25% of Signatures Reached 03/16/2022 (PDF))
Proponent(s): Thomas W. Hiltachk

For new or increased state taxes currently enacted by two-thirds vote of Legislature, also requires statewide election and majority voter approval. Limits voters' ability to pass voter-proposed local special taxes by raising vote requirements to two-thirds. Eliminates voters' ability to advise how to spend revenues from from proposed general tax on same ballot as the proposed tax.  Expands definition of "taxes" to include certain regulatory fees, broadening application of tax approval requirements. Requires Legislature or local governing body set certain other fees. Summary of estimate by Legislative Analyst an Director of Finance of fiscal impact on state and local governments: Lower annual state and local revenues, potentially substantially lower, depenfing on future actions of the Legislature, local governing bodies, voters, and the courts. (21-0042A1)