| Proposition 55: The Kindergarten-University
Public Education Facilities Bond Act of 2004
What is Proposition
55?
- Proposition 55 is the second part of a $25.3 billion statewide
bond package to repair, upgrade and build new schools. The first
half of the package —Proposition 47, providing $13.05
billion— was passed by 59 percent of California voters
in November 2002. The second half, which will provide $12.3
billion will be put before voters on the March 2004 ballot.
- If approved, Proposition 55 will fund construction of new
classrooms, repair and renovate existing school facilities,
seismic upgrades and high-tech equipment to provide the infrastructure
necessary to reduce overcrowding and accommodate student enrollments
in California's public schools and universities.
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Where will the
bond money go?
- If approved by voters, the bond will authorize the sale of
statewide general obligation bonds in the amount of $12.3 billion
to repair, upgrade and build new school facilities as follows:
- K-12: $10 billion
- California State University: $690 million
- University of California: $690 million
- California Community Colleges: $920 million
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How will Proposition
55 affect the CSU?
- The $690 million earmarked for the California State University
will fund capital projects in 2004-05 and 2005-06 to:
- build new classrooms and upgrade older buildings to accommodate
the nearly 150,000 new students who will enroll at CSU campuses
by 2010. More than half of the CSU's facilities are over 28
years old
- upgrade and modernize aging laboratories, libraries and
research facilities
- wire classrooms to give students access to technology and
computers
- make safety and seismic improvements
- Campus Specific Projects» (.xls)
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General
Questions and Answers About Proposition 55
Q. Will passage of Proposition 55 raise my property taxes?
A. No. The bonds will be repaid from state revenues over 30 years
and would not increase or create new taxes.
Q. Will any of the money from the bond be used for
salaries or other nonessential administrative expenses?
A. No. All of the revenue derived from sale of the General Obligation
bonds that Proposition 55 would authorize must be used solely for
construction, renovation, and repair of school facilities. Bond
money cannot be used for salaries or administrative expenses.
Q. Will Proposition 55 fund all the capital costs
at the CSU?
A. No. The Board of Trustees of the CSU oversees the capital planning,
design and construction at all 23 campuses through a five-year capital
outlay plan adopted annually. According to the current plan, the
CSU estimates a total need of $3.6 billion over the next five years
alone. The $690 million provided in Proposition 55 will cover 19
percent of the total need.
Q. How will California's economy benefit?
A. If approved, it is estimated that Proposition 55 would create
250,000 jobs in the state in construction and related industries.
Q. Who supports/opposes Proposition 55?
A. SUPPORTERS:
Here is a small sample of supporters for the bond measure; for a
complete list see: www.2004schoolbond.com
California State PTA
California Teachers Association
California Federation of Teachers
California Chamber of Commerce
League of Women Voters of California
Congress of California Seniors
Californians for Higher Education
California School Boards Association
OPPONENTS:
The Secretary of State's homepage lists arguments in favor of and
against Prop. 55.
http://www.voterguide.ss.ca.gov/propositions/prop55-arguments.html
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