California Reading and Literacy Improvement and Public Library Construction and Renovation Bond Act of 2000
	Official Title and Summary prepared by the Attorney General
Full Text of Proposed Law	California Reading and Literacy Improvement and Public Library Construction and Renovation Bond Act of 2000

• This act provides for a bond issue of three hundred fifty million dollars ($350,000,000) to provide funds for the construction and renovation of public library facilities in order to expand access to reading and literacy programs in California's public education system and to expand access to public library services for all residents of California.
• Appropriates money from state General Fund to pay off bonds.

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

• State cost of about $600 million over 25 years to pay off both the principal ($350 million) and interest ($250 million) costs on the bonds. Payments of about $24 million per year.
• One-time local costs (statewide) of $190 million to pay for a share of library facility projects. Potential additional local operating costs (statewide) ranging from several million dollars to over $10 million each year.