CA SB14

Authorizes the issuance of $8,000,000,000 in state general obligation bonds for higher education facilities, subject to voter approval at the March 3, 2020 statewide primary election.

Designates one-half of bond proceeds ($4,000,000,000) for the University of California and Hastings College of the Law, and one-half ($4,000,000,000) for the California State University.

Permits bond funds to be used for construction, reconstruction, renovation, and remodeling of facilities, acquisition of fixtures and equipment, site acquisition, and off-campus facility improvements.

Requires universities and colleges requesting bond funds to submit their five-year capital outlay plans and include schedules prioritizing seismic retrofitting of high-priority buildings by the 2026-27 fiscal year.

Establishes the 2020 Higher Education Facilities Bond Act Finance Committee, chaired by the State Treasurer, to oversee bond issuance and fund disbursement in accordance with annual Budget Act appropriations.