First of all, this is one in a package of bills aimed at sensibly revising the ballot initiative petition process. Se also SBs 413 and 953.
Common sense should tell anyone that getting ballot initiative language approved before collecting signatures on the petition does not interfere with the rights of citizens any more than does having the ballot language approved after signatures are obtained. Very arguably, in fact, it protects citizens' rights by helping reduce potential for fraudulent misprespresentation of the ballot issue in order to obtain signatures. If nothing else, it provides prospective petition endorsers an opportunity to see exactly what may be voted on before they sign. It also provides prospective signers opportunity to know who is sponsoring the initiative.
A more fully and accurately informed voting public is a more effective voting public.
This actually places events in the initiative process in a more sensible order -- puts the horse before the cart, so to speak.
Once you've actually read it, you have to be genuinely paranoid to see in this legislation a plot to deprive citizens of their rights.