The proposed amendment would eliminate some provisions of a rainy day reserve measure already on the ballot. The original measure, ACA 4, was opposed by some of the Democratic governor's liberal allies, who complained it would collect too much money and make it too difficult to increase spending.
Brown has said the measure fails to address the volatility of capital gains revenue and didn't allow lawmakers to pay down debt, among other shortcomings.
"We simply must prevent the massive deficits of the last decade and we can only do that by paying down our debts and creating a solid Rainy Day Fund," Brown said in a prepared statement Wednesday.
The original measure, ACA 4, was part of a 2010 budget deal between Democrats, Republicans and then-Gov. Arnold Schwarzenegger and originally scheduled to go before voters in 2012, but lawmakers postponed it to 2014.
Republicans reacted skeptically to Brown's proposal when he first announced it, in January, saying they were happy with ACA 4. Brown's ability to push it through a special session will test Democrats' diminished standing in the Legislature. Democrats have lost their two-thirds majority in the Senate, with three senators suspended.
In calling a special session, Brown raises the profile of the issue but still must get supermajority support.
Brown's proposal, contained in his January budget plan, includes a $1.6 billion allocation to a new rainy-day fund. He proposes to increase deposits during years when capital gains revenue is high, to raise the maximum size of the fund to 10 percent of general fund revenue and to create a special reserve for school funding.
PHOTO: Gov. Jerry Brown speaks to reporters at a news conference at the Capitol on Sept. 9, 2013. The Sacramento Bee/Hector Amezcua