Official Title and Summary Prepared by the Attorney General
SCHOOL FACILITIES. 55% LOCAL VOTE. BONDS, TAXES. ACCOUNTABILITY REQUIREMENTS.
Initiative Constitutional Amendment and Statute.

– Authorizes bonds for repair, construction or replacement of school facilities, classrooms, if approved by 55% local vote for projects evaluated by schools, community college districts, county education offices for safety, class size, and information technology needs.

– Accountability requirements include annual performance and financial audits on use of bond proceeds.

– Prohibits use of bond proceeds for salaries or operating expenses.

– Requires facilities for public charter schools.

– Authorizes property taxes in excess of 1% limit by 55% vote, rather than current two-thirds, as necessary to pay school bonds.

Summary of Legislative Analyst's Estimate of Net State and Local Government
Fiscal Impact:

– Increased debt costs for many school districts, depending on local voter approval of future school bond issues (these costs would vary by individual district). District costs throughout the state could total in the hundreds of millions of dollars each year within a decade.

– Potential longer-term state savings to the extent local school districts assume greater responsibility for funding school facilities.