Labor faction sources said the party will propose a bill calling to disperse the 18TH Knesset, right after the opening of the plenum's summer session on Monday.
According to the bill, the current Knesset will disperse before completing its term, and elections will be held three months after the new law is passed.
Labor Chairwoman MK Shelly Yachimovich said on Friday that the bill "is not a statement, but rather a proposal that we expect to pass during the next session, followed by elections in the upcoming year."
On Friday, Yedioth Ahronoth reported that officials in the Likud party also said they forsee early parliamentary elections within the next year.
According to the officials, Prime Minister Benjamin Netanyahu and recently elected Kadima Chairman Shaul Mofaz met last week to discuss the possibility of early elections.