Public Education Facilities Bond Act of 1996
Official Title and Summary
Prepared by the Attorney General
Text of Proposition
- This act provides for a bond issue of three billion dollars
($3,000,000,000) to provide funds for school facility improvement
programs.
- Earmarks $2.025 billion for primary and secondary schools, and $975
million for higher education.
- Appropriates money from General Fund to pay off bonds.
Summary of Legislative Analyst's
Estimate of Net State and Local Government Fiscal Impact:
- State General Fund cost of about $5.2 billion to pay off both the
principal ($3 billion) and interest ($2.2 billion) on the bonds.
- The average payment for principal and interest over 25 years would
be about $208 million per year.
Final Votes Cast by the Legislature on AB 1168 (Proposition 203)
Assembly: Ayes 69 Senate: Ayes 30
Noes 6 Noes 5
Analysis by the Legislative Analyst
Argument in Favor of Proposition 203
Rebuttal to Argument in Favor of Proposition 203
Argument Against Proposition 203
Rebuttal to Argument Against Proposition 203
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