Proposition 55 at-a-glance:

_ Would allow the state to sell $12.3 billion in general obligation bonds to pay for repairs and modernization of public schools, to relieve overcrowded classrooms and to build new schools.

_ K-12 schools would get $10 billion of the bonds.

_ Higher education would get $2.3 billion: $620 million for University of California projects, $620 million for California State University projects, and $920 million for community college projects.

_ Charter schools, public schools that are run by private organizations, could apply for $300 million to build schools.

_ K-12 school districts pay for half of the cost of new construction and 60 percent of modernization projects, unless they prove it would be a hardship.

_ The bond measure is the second half of $25.3 billion the Legislature put in front of voters for school construction. The first $13 billion bond measure was approved in November 2002.

_ Requires majority vote.

Source: California Legislative Analyst's Office.