Vote no on prop 105 part 1: what does it propose?

To prevent myself from becoming victim to one of my own pet pevs I'm going to start by looking at the orginal document and not just start talking about it. So here it is in its own words:

The Constitution of Arizona is proposed to be amended by adding Section 1.1 to Article IV, Part 1 as follows, if approved by a majority of the votes cast thereon and on proclamation of the Governor:
Section 1. Article IV, Part 1, Constitution of Arizona, is amended by adding Section 1.1, as follows:
§1.1. FISCAL RESPONSIBILITY THROUGH TRUE MAJORITY RULE
SECTION 1.1. TO PRESERVE AND PROTECT THE RIGHT OF THE PEOPLE TO FISCAL RESPONSIBILITY THROUGH TRUE MAJORITY RULE, AN INITIATIVE MEASURE THAT ESTABLISHES, IMPOSES OR RAISES A TAX, FEE, OR OTHER REVENUE, OR MANDATES A SPENDING OBLIGATION, WHETHER ON A PRIVATE PERSON, LABOR ORGANIZATION, OTHER PRIVATE LEGAL ENTITY OR THIS STATE, SHALL NOT BECOME LAW UNLESS THE MEASURE IS APPROVED BY A MAJORITY OF QUALIFIED ELECTORS THEN REGISTERED TO VOTE IN THIS STATE.
Section 2. Short Title: This Constitutional Amendment shall be known as the "Majority Rule--Let the People Decide Act."


ANALYSIS BY LEGISLATIVE COUNCIL
Proposition 105 would amend the Arizona Constitution to provide that an initiative measure that establishes, imposes or raises a tax, a fee or other revenue or mandates a spending obligation on a private person, a labor organization, other private legal entity or this state shall not become law unless the initiative measure is approved at the election by a majority of qualified electors registered to vote in the state.
FISCAL IMPACT STATEMENT
State law requires the Joint Legislative Budget Committee (JLBC) Staff to prepare a summary of the fiscal impact of certain ballot measures. The fiscal impact cannot be determined in advance. Ballot propositions are currently approved by a majority of votes cast on a measure. By increasing the current vote threshold for an initiative that increases a tax or fee or creates a mandatory spending obligation, Proposition 105 may reduce the number of such initiatives that are approved in the future.

BALLOT FORMAT

PROPOSED AMENDMENT TO THE CONSTITUTION
BY THE INITIATIVE RELATING TO THE INITIATIVE
OFFICIAL TITLE
MAJORITY RULE-LET THE PEOPLE DECIDE ACT
PROPOSING AN AMENDMENT TO THE CONSTITUTION OF ARIZONA: AMENDING ARTICLE IV, PART 1, CONSTITUTION OF ARIZONA, BY ADDING SECTION 1.1 RELATING TO INITIATIVE MEASURES AND REQUIRING THAT ANY MANDATORY TAX OR SPENDING INCREASE BE ENACTED BY A MAJORITY OF QUALIFIED ELECTORS.
DESCRIPTIVE TITLE
REQUIRES AN INITIATIVE MEASURE THAT ESTABLISHES, IMPOSES OR RAISES A TAX, FEE, OR OTHER REVENUE, OR MANDATES A SPENDING OBLIGATION, WHETHER ON A PRIVATE PERSON, LABOR ORGANIZATION, OTHER PRIVATE LEGAL ENTITY OR STATE, SHALL NOT BECOME LAW UNLESS THE MEASURE IS APPROVED BY A MAJORITY OF QUALIFIED ELECTORS REGISTERED TO VOTE.


A "yes" vote shall have the effect of requiring that a majority of registered voters approve any initiative measure establishing, imposing or raising a tax, fee, or other revenue, or mandating a spending obligation, whether on a private person, labor organization, other private legal entity, or the state, in order to become law.

A "no" vote shall have the effect of retaining the current law under which an initiative measure is enacted upon approval of a majority of registered voters that vote on the measure.

here is who is in support of this messure:

Chad Kirkpatrick, Arizona Chairman, Americans for Prosperity, Phoenix
Tom Jenney, Arizona Director, Americans for Prosperity
Kevin Rogers, President, Arizona Farm Bureau, Gilbert
Jim Klinker, Chief Administrative Officer, Arizona Farm Bureau, Gilbert


source: http://www.azsos.gov/election/2008/Info/PubPamphlet/english/Prop105.htm