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CA SB1017
Bill
Status
Introduced
2/14/2020
Primary Sponsor
Anthony Portantino
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AI Summary
- Amends Education Code Section 17456 to require rental housing facilities for school district employees funded by surplus property sales or leases to be affordable
- Expands permissible uses of financing proceeds from property transactions to include one-time capital expenditures, pension obligation payments, general fund reserves, and offsetting costs for special needs pupils when proceeds are from sales or leases funding new affordable rental housing for school district employees
- Allows school districts to place deferred maintenance proceeds in a restricted portion of the general fund
- Permits establishment of a dedicated fund for pension obligation payments from these financing proceeds
- Maintains exemptions from existing Education Code and Government Code requirements for qualifying property sales and leases
Legislative Description
School facilities: proceeds from sale or lease of surplus property: affordable rental housing facilities.
Last Action
March 25 hearing postponed by committee.
3/18/2020
Committee Referrals
Education2/27/2020
Rules2/14/2020
Full Bill Text
No bill text available