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- Election: March 3, 2020
March 3, 2020
AB 48 (Chapter 530 of 2019), O’Donnell. Education finance: school facilities: Public Preschool, K-12, and College Health and Safety Bond Act of 2020.
A YES vote on this measure means: The state could sell $15 billion in general obligation bonds to fund school, community college, and university facility projects. In addition, school districts and community college districts would be authorized to issue more local bonds, and school districts would have new limits on their ability to levy developer fees.
A NO vote on this measure means: The state could not sell $15 billion in general obligation bonds to fund education facility projects. The state also would not make changes to school districts’ and community college districts’ existing local borrowing limits or the existing rules for school districts to levy developer fees.
To get a better understanding of bond debt, see our Overview of State Bond Debt.