The New York Times editorializes in its favor. You can find the text of the measure here. This is a long and complex bill that I have not had a chance to analyze. I have heard some complain that the limits on contributions to candidates by lobbyists and their families could be challenged (lower courts have split on the constitutionaliity of targeted campaign finance regulation bans) and that the public financing provisions could violate the rights of minor parties. Robbin Stewart is concerned about the constitutionality of some of the disclosure provisions. I think it is fair to expect some litigation over the constitutionality of this measure, but I don’t have an opinion yet on how such litigation is likely to come out.