Depending on the delivery method, you might "present a proposal, make a proposal, deliver a proposal" but "submit" is definitely recognized as formal. Be careful with "proposition" as it can have negative connotations; not the least of which (between sexes) is an advance. In the Godfather, one would make "an offer he can't refuse".
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Gene93Anyway, we make propositions, don't we? Or we put propositions to people. No?I wouldn't "put" a proposition, but I might "make" one. In any case, I'm more likely to "propose" something, i.e., use the verb "propose".