SACRAMENTO – Assemblyman Scott Wilk's, R-Santa Clarita, Assembly Bill 882, which will ensure local Proposition 39 General Obligation bonds are paid off in a fiscally responsible manner, passed out of Senate Education Committee on a 8-0 vote.
AB 882 would specify that the term of a general obligation bond used for the purposes of furnishing and equipping a classroom, including electronic equipment, shall not exceed 120% of the average expected shelf-life.
“AB 882 provides a safeguard for taxpayers by ensuring their hard-earned tax dollars are used appropriately,” said Wilk. “This measure requires school districts to act in a fiscally responsible manner when issuing bonds for electronic equipment.”
In November of 2000, voters passed Proposition 39, a Constitutional Amendment which, among others, gives school districts and community colleges the opportunity to seek approval of a local General Obligation bond based on a 55% vote. In addition to using bond funds for the construction and modernization of schools, local educational agencies use bond funds to furnish and equip school facilities, including furniture such as desks as well as desktop computers and other forms of technology.
Next the bill heads to the Senate Committee on Governance and Finance.