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I'm not even sure if that would be a good idea. Try to think of this with concerns of demagoguery in mind, where some obscure special interest groups supposedly adress an issue that the public thinks it feels strongly about but is nowhere near aware of its complexities, or the ramifications of the proposal going through (think prop 200). under your suggested proposal, dozens of elected officials who opposed 200 would be currently out of office, ranging from Napolitano, Goddard, Phoenix mayor Phil Gordon as well as other mayors, all if not most of the Phoenix City Council and numerous other city councils, and some elected members of county governments. It could even go all the way to McCain and other AZ members of Congress who were against 200 if they voted to give Arizona no federal funding for anything relating to the enforcement of Prop 200 (this wouldn't happen, State laws about elected officials can not carry over into Federal ones).
Aside from all of that, there is little power that the state legislature has beyond determining budgets, and the so-called power of the purse has been used for years as a last line of defense against growing executive powers, so denying the legislature that power would render it pretty ineffective.
Interestingly, on the flip side of this coin is an almost exact opposite bill Republicans put to the voters in almost every election, that being an attempt to strip the provision regarding putting bills up to statewide voters.
AS for your second idea, I think it's a bad one. I don't see the point in it-- in many states, it's illegal for anyone convicted of anything to run for office, and both parties have by-laws automatically excluding or giving no support for unpardoned convicted felons. As an aside, as well as it being pretty costly to put into place, there's nothing libertarian-sounding about it.
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