06/03/2011 07:44 pm ET Updated Aug 03, 2011

California Budget: Lawmakers To Lose Pay If Budget Not Passed By June 15

Reporting from Sacramento -- California lawmakers will start losing their pay in two weeks if they don't complete a balanced budget, state Controller John Chiang announced Thursday.

Chiang, the state's chief accountant, said a ballot measure passed in November requires him to dock legislators' pay unless they approve a balanced spending plan by the June 15 deadline specified in the California Constitution.