Wilk's Bill Increasing Fiscal Transparency For Local Bonds Clears Committee

SACRAMENTO – Assemblyman Scott Wilk's, R- Santa Clarita, bill establishing greater  transparency regarding the fiscal impact of local bond measures passed the Assembly Elections and Redistricting committee with a 6-0 vote.

“Thanks to my colleagues in the Assembly Elections and Redistricting committee for passing this common sense approach that will provide citizens more information as to the true cost of a local bond measure,” said Wilk.

Since 1997, the non-partisan Legislative Analyst's Office (LAO) has been required to include in the ballot pamphlet the fiscal effect of each statewide General Obligation Bond. The LAO is required to follow a list of criteria including the ultimate cost to state or local government.  Assembly Bill 2551 would apply this same process to local bonds to ensure voters are fully aware of the complete cost of a proposed bond measure.

“AB 2551 seeks to provide more comprehensive financial information so voters know the full costs of a bond proposal before they cast a ballot,” concluded Wilk.