Gov. Arnold Schwarzenegger has demanded that lawmakers put a measure on the ballot to strengthen the state's "rainy-day fund" as part of any budget agreement he signs this year.

The question is, when?

Lawmakers are able to place measures on the Nov. 2 ballot even though they missed election deadlines two months ago. Still, state leaders are approaching logistical deadlines that would make it difficult for counties to add another measure to the ballot, election officials say.

In 2008, Schwarzenegger signed a measure on Aug. 26 to place a new high-speed rail bond measure on the November ballot that year. That marks the latest date in recent history that state leaders have been able to place a proposal on the November ballot. Aug. 26 was 70 days before the Nov. 4 election that year.

Today is the comparable 70-day date for this November's election. And there is no sign that lawmakers and Schwarzenegger are close to agreement on a budget reform ballot measure.

Schwarzenegger's office acknowledged Monday that his aides privately suggested borrowing as much as $2 billion from the state's pension fund as an advance against future savings that might result from pension cuts. But spokesman Matt David said the governor himself has not endorsed the idea.

The governor still has some hope of putting a rainy-day fund measure on the ballot, but that diminishes each day.

On Thursday, Secretary of State Debra Bowen's office will provide counties with a certified list of candidates. Once counties receive that list, they plan to begin printing ballots, said Santa Cruz County Clerk Gail Pellerin, who also heads the state association of election officials.

After that, the next crucial date is Sept. 3. That's when counties begin mailing ballots to overseas voters, including those serving in the military.

"The governor believes it is premature to talk about any ballot other than the November ballot because he has consistently said this needs to get done as quickly as possible," said Schwarzenegger political adviser Adam Mendelsohn.

If lawmakers and Schwarzenegger somehow find a way to push a measure onto this November's ballot, the state would have to print a supplemental ballot pamphlet. At a minimum, Bowen estimates, that would cost $3.58 million to $4 million to create, print and send.

Pellerin said counties are still waiting for reimbursement for last year's special election, which was the product of a February 2009 budget deal. Most of the measures failed, including one that contained some of the provisions Schwarzenegger wants again in a new ballot measure.

If state leaders miss this November's ballot, Schwarzenegger will be out of office by the time the next election occurs. The governor may relish the opportunity to extend his role in California politics to 2012 by virtue of campaigning for his ballot measures, but he also runs the risk of having the Legislature interfere with those plans.

By that point, lawmakers and the next governor could agree to delay or change the measure without his input.

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Call Kevin Yamamura, Bee Capitol Bureau, (916) 326-5548.

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