CA AB2771

Authorizes issuance of $7,000,000,000 in state general obligation bonds for higher education capital projects at the University of California, California State University, and Hastings College of the Law.

Bonds may be used for construction, reconstruction, remodeling, equipping of facilities, preconstruction costs, and off-campus facility improvements approved by the CSU Trustees on or before July 1, 2014.

Creates the 2018 Higher Education Facilities Bond Act Finance Committee composed of the Governor, Controller, Treasurer, Director of Finance, UC President, and CSU Chancellor to authorize bond issuance.

Establishes the 2018 Higher Education Capital Outlay Bond Fund in the State Treasury to receive bond proceeds and requires universities to submit five-year capital outlay plans and seismic retrofitting priorities with funding requests.

Submits the bond measure to voters at the November 3, 2020 statewide general election, requiring a two-thirds vote of each legislative house and majority voter approval.