BILL NUMBER: SJR 2INTRODUCED BILL TEXT INTRODUCED BY Senator Liu FEBRUARY 25, 2009 Relative to college textbook affordability. LEGISLATIVE COUNSEL'S DIGEST SJR 2, as introduced, Liu. Postsecondary education: college textbook affordability. This measure would commend the Congress and the President of the United States for including the American Opportunity Tax Credit in the American Recovery and Reinvestment Act of 2009 enabling California to make college affordable for students. The measure would express the intent of the Legislature to adopt similar higher education tax credits when the state's economic conditions improve. Fiscal committee: yes. WHEREAS, The importance of improving access to and affordability of postsecondary education is critical to the nation's future economic well-being; and WHEREAS, The last several decades have shown growth in the educational requirements of jobs. Reports have demonstrated that a majority of the jobs in the fastest growing occupations require an associate degree or higher level of postsecondary education and training; and WHEREAS, Efforts to foster opportunities for developing a highly skilled and educated workforce by reducing barriers that prevent students from receiving a quality higher education are a critical component of the nation's and California's economic recovery; and WHEREAS, A recent California State Auditor report has shown that increases in textbook prices have significantly outpaced median household income making it more likely that some students will forgo or delay attending college because of the financial burden; and WHEREAS, For the 2007-08 academic year, the average textbook costs as a percentage of student fees and textbooks was as high as 59 percent in California's system of public higher education; and WHEREAS, During the last several years, the soaring costs of college textbook prices have become a barrier to student access to a postsecondary education, with textbook costs increasing at twice the rate of inflation followed by tuition increases; and WHEREAS, The United States Government Accounting Office found that between December 1986 and December 2004, textbook prices nearly tripled while tuition and fees increased by 240 percent; and WHEREAS, Given that nearly one-half of undergraduates nationwide receive state and federal financial aid, efforts to make the overall cost of attendance more affordable, including the cost of textbooks, makes economic sense for California and the nation; and WHEREAS, Nationwide, students and their families spend billions of dollars on new and used textbooks and, given that many students rely on government financial aid, escalating textbook prices can impact state and federal spending; and WHEREAS, Providing students and their families a means to lessen the impact of the soaring costs of a college education through a higher education tax credit will improve access to and the affordability of a college education; now, therefore, be it Resolved by the Senate and the Assembly of the State of California, jointly, That the Legislature of the State of California commends the Congress and the President of the United States for including the American Opportunity Tax Credit in the American Recovery and Reinvestment Act of 2009 enabling California to make college affordable for students by providing financial relief to students and their families from the soaring costs of a college education; and be it further Resolved, That the Legislature calls for the State of California, when the state's economic conditions improve, to adopt a similar higher education tax credit measure that will support efforts to make college more affordable for all California citizens; and be it further Resolved, That the Secretary of the Senate transmit copies of this resolution to the President and Vice President of the United States, and to each Senator and Representative from California in the Congress of the United States.