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CA SB1225
Bill
AI Summary
- Authorizes issuance of $4,000,000,000 in state general obligation bonds upon voter approval at the November 3, 2020 statewide general election
- Designates one-half of bond proceeds ($2,000,000,000) for University of California and Hastings College of the Law, and one-half ($2,000,000,000) for California State University
- Allows bonds to fund construction, reconstruction, remodeling, equipment acquisition, and seismic retrofitting of educational facilities at the designated institutions
- Requires any funding requests from universities to include their five-year capital outlay plan and a schedule prioritizing seismic retrofitting to reduce hazards by the 2026–27 fiscal year
- Creates the 2020 Higher Education Facilities Bond Act Finance Committee, chaired by the State Treasurer, to oversee bond issuance and administration
Legislative Description
Education finance: Higher Education Facilities Bond Act of 2020.
Last Action
Ordered to inactive file on request of Assembly Member Arambula.
8/31/2018
Committee Referrals
Appropriations6/27/2018
Higher Education6/7/2018
Appropriations4/25/2018
Governance and Finance3/21/2018
Education3/1/2018
Rules2/15/2018
Full Bill Text
No bill text available