If it’s true that getting an initiative on the ballot is largely a function of how much money you can raise, the latest measure touted as a new crime fighting law is well on its way.

The initiative, sponsored by Sen. George Runner (R-Lancaster) and “Three Strikes” author Mike Reynolds, aims to crack down on convicted felons with firearms. It also would require those who are designated as “gang offenders” to register with local law enforcement agencies. And it would add 10 years to the prison sentence of anyone convicted of a violent felony.

The initiative has yet to hit the streets, as it’s still awaiting a formal title and ballot summary from the Attorney General’s office. Democrats have criticized the measure for its mandates on where government funds are spent, calling it a bad example of ballot-box budgeting.

But late last week, the measure’s chances for making the ballot improved overnight, when the campaign received a cool $1 million contribution from Orange County high-tech billionaire Henry Nicholas. Nicholas was a backer of Runner’s initiative known as “Jessica’s Law” and approved by voters as Proposition 83 last November, and he’s also been a generous backer of Governor Schwarzenegger.