CA AB2552

Authorizes school districts and community college districts to deposit a portion of refunding bond proceeds into building funds, limited to the net present value of debt service savings from the refinancing.

Requires annual debt service on refunding bonds to not exceed annual debt service on the original bonds in each year outstanding.

Changes the standard for projecting assessed valuation growth from compliance with Article XIII A of the California Constitution to an annual rate not greater than the average annual rate of growth in assessed value over the preceding 20-year period.

Applies the new 20-year average growth rate standard to tax rate calculations for regular school district bonds ($30 per $100,000), unified school district bonds ($60 per $100,000), and community college district bonds ($25 per $100,000).

Requires calculations of refunding bond amounts and debt service to be certified by a certified public accountant or licensed accounting firm.