CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION Assembly Bill No. 2771Introduced by Assembly Members Eggman, Grayson, and WeberFebruary 16, 2018 An act relating to education finance. LEGISLATIVE COUNSEL'S DIGESTAB 2771, as introduced, Eggman. Education finance: Higher Education Facilities Bond Act of 2018.Under the Higher Education Facilities Bond Act of 1986, the Higher Education Facilities Bond Act of 1988, and the Higher Education Facilities Bond Act of June 1992, the issuance, pursuant to the State General Obligation Bond Law, of bonds in an amount not to exceed $400,000,000, $600,000,000, and $900,000,000, respectively, and the expenditure of the revenues therefrom, were authorized for the purpose of aid to the University of California and the California State University for, among other things, the construction and equipping of educational facilities, as specified. Existing law establishes the Higher Education Facilities Finance Committee to administer those acts, and to authorize the issuance and sale of bonds to the extent necessary to fund the education facilities construction apportionments expressly authorized by the Legislature in the annual Budget Act.More recently, the Class Size Reduction Kindergarten-University Public Education Facilities Bond Act of 1998, the Kindergarten-University Public Education Facilities Bond Act of 2002, the Kindergarten-University Public Education Facilities Bond Act of 2004, and the Kindergarten-University Public Education Facilities Bond Act of 2006 authorized the issuance of bonds and the expenditure of revenues therefrom for the University of California and the California State University, as well as for public elementary and secondary schools.This bill would express the intent of the Legislature to enact the Higher Education Facilities Bond Act of 2018 to assist in meeting the capital outlay financing needs of the University of California and the California State University.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. This act shall be known, and may be cited, as the Higher Education Facilities Bond Act of 2018.SEC. 2. The Legislature finds and declares all of the following:(a) Californias economic and social prosperity depends on a higher education system that keeps pace with Californias growth.(b) By 2030, California is estimated to fall 1,100,000 college graduates short of demand in the job market.(c) Despite the need for more college graduates, California is turning away tens of thousands of qualified residents for admission to its four-year universities.(d) Thousands of potential students are place-bound without adequate access to a four-year public university.(e) There is an acute need for increased student housing, and the inadequate availability of such housing serves as an obstacle to the ability of students to pursue and complete their degrees.SEC. 3. It is the intent of the Legislature to enact legislation to adopt the Higher Education Facilities Bond Act of 2018 to assist in meeting the capital outlay financing needs of the University of California and the California State University systems. Specifically, funding from this act is intended to be used to fund student housing, facility improvements on existing campuses, and the establishment of a fund to develop new campuses.
CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION Assembly Bill No. 2771Introduced by Assembly Members Eggman, Grayson, and WeberFebruary 16, 2018 An act relating to education finance. LEGISLATIVE COUNSEL'S DIGESTAB 2771, as introduced, Eggman. Education finance: Higher Education Facilities Bond Act of 2018.Under the Higher Education Facilities Bond Act of 1986, the Higher Education Facilities Bond Act of 1988, and the Higher Education Facilities Bond Act of June 1992, the issuance, pursuant to the State General Obligation Bond Law, of bonds in an amount not to exceed $400,000,000, $600,000,000, and $900,000,000, respectively, and the expenditure of the revenues therefrom, were authorized for the purpose of aid to the University of California and the California State University for, among other things, the construction and equipping of educational facilities, as specified. Existing law establishes the Higher Education Facilities Finance Committee to administer those acts, and to authorize the issuance and sale of bonds to the extent necessary to fund the education facilities construction apportionments expressly authorized by the Legislature in the annual Budget Act.More recently, the Class Size Reduction Kindergarten-University Public Education Facilities Bond Act of 1998, the Kindergarten-University Public Education Facilities Bond Act of 2002, the Kindergarten-University Public Education Facilities Bond Act of 2004, and the Kindergarten-University Public Education Facilities Bond Act of 2006 authorized the issuance of bonds and the expenditure of revenues therefrom for the University of California and the California State University, as well as for public elementary and secondary schools.This bill would express the intent of the Legislature to enact the Higher Education Facilities Bond Act of 2018 to assist in meeting the capital outlay financing needs of the University of California and the California State University.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO
CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION
Assembly Bill No. 2771
Introduced by Assembly Members Eggman, Grayson, and WeberFebruary 16, 2018
Introduced by Assembly Members Eggman, Grayson, and Weber
February 16, 2018
An act relating to education finance.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
AB 2771, as introduced, Eggman. Education finance: Higher Education Facilities Bond Act of 2018.
Under the Higher Education Facilities Bond Act of 1986, the Higher Education Facilities Bond Act of 1988, and the Higher Education Facilities Bond Act of June 1992, the issuance, pursuant to the State General Obligation Bond Law, of bonds in an amount not to exceed $400,000,000, $600,000,000, and $900,000,000, respectively, and the expenditure of the revenues therefrom, were authorized for the purpose of aid to the University of California and the California State University for, among other things, the construction and equipping of educational facilities, as specified. Existing law establishes the Higher Education Facilities Finance Committee to administer those acts, and to authorize the issuance and sale of bonds to the extent necessary to fund the education facilities construction apportionments expressly authorized by the Legislature in the annual Budget Act.More recently, the Class Size Reduction Kindergarten-University Public Education Facilities Bond Act of 1998, the Kindergarten-University Public Education Facilities Bond Act of 2002, the Kindergarten-University Public Education Facilities Bond Act of 2004, and the Kindergarten-University Public Education Facilities Bond Act of 2006 authorized the issuance of bonds and the expenditure of revenues therefrom for the University of California and the California State University, as well as for public elementary and secondary schools.This bill would express the intent of the Legislature to enact the Higher Education Facilities Bond Act of 2018 to assist in meeting the capital outlay financing needs of the University of California and the California State University.
Under the Higher Education Facilities Bond Act of 1986, the Higher Education Facilities Bond Act of 1988, and the Higher Education Facilities Bond Act of June 1992, the issuance, pursuant to the State General Obligation Bond Law, of bonds in an amount not to exceed $400,000,000, $600,000,000, and $900,000,000, respectively, and the expenditure of the revenues therefrom, were authorized for the purpose of aid to the University of California and the California State University for, among other things, the construction and equipping of educational facilities, as specified. Existing law establishes the Higher Education Facilities Finance Committee to administer those acts, and to authorize the issuance and sale of bonds to the extent necessary to fund the education facilities construction apportionments expressly authorized by the Legislature in the annual Budget Act.
More recently, the Class Size Reduction Kindergarten-University Public Education Facilities Bond Act of 1998, the Kindergarten-University Public Education Facilities Bond Act of 2002, the Kindergarten-University Public Education Facilities Bond Act of 2004, and the Kindergarten-University Public Education Facilities Bond Act of 2006 authorized the issuance of bonds and the expenditure of revenues therefrom for the University of California and the California State University, as well as for public elementary and secondary schools.
This bill would express the intent of the Legislature to enact the Higher Education Facilities Bond Act of 2018 to assist in meeting the capital outlay financing needs of the University of California and the California State University.
## Digest Key
## Bill Text
The people of the State of California do enact as follows:SECTION 1. This act shall be known, and may be cited, as the Higher Education Facilities Bond Act of 2018.SEC. 2. The Legislature finds and declares all of the following:(a) Californias economic and social prosperity depends on a higher education system that keeps pace with Californias growth.(b) By 2030, California is estimated to fall 1,100,000 college graduates short of demand in the job market.(c) Despite the need for more college graduates, California is turning away tens of thousands of qualified residents for admission to its four-year universities.(d) Thousands of potential students are place-bound without adequate access to a four-year public university.(e) There is an acute need for increased student housing, and the inadequate availability of such housing serves as an obstacle to the ability of students to pursue and complete their degrees.SEC. 3. It is the intent of the Legislature to enact legislation to adopt the Higher Education Facilities Bond Act of 2018 to assist in meeting the capital outlay financing needs of the University of California and the California State University systems. Specifically, funding from this act is intended to be used to fund student housing, facility improvements on existing campuses, and the establishment of a fund to develop new campuses.
The people of the State of California do enact as follows:
## The people of the State of California do enact as follows:
SECTION 1. This act shall be known, and may be cited, as the Higher Education Facilities Bond Act of 2018.
SECTION 1. This act shall be known, and may be cited, as the Higher Education Facilities Bond Act of 2018.
SECTION 1. This act shall be known, and may be cited, as the Higher Education Facilities Bond Act of 2018.
### SECTION 1.
SEC. 2. The Legislature finds and declares all of the following:(a) Californias economic and social prosperity depends on a higher education system that keeps pace with Californias growth.(b) By 2030, California is estimated to fall 1,100,000 college graduates short of demand in the job market.(c) Despite the need for more college graduates, California is turning away tens of thousands of qualified residents for admission to its four-year universities.(d) Thousands of potential students are place-bound without adequate access to a four-year public university.(e) There is an acute need for increased student housing, and the inadequate availability of such housing serves as an obstacle to the ability of students to pursue and complete their degrees.
SEC. 2. The Legislature finds and declares all of the following:(a) Californias economic and social prosperity depends on a higher education system that keeps pace with Californias growth.(b) By 2030, California is estimated to fall 1,100,000 college graduates short of demand in the job market.(c) Despite the need for more college graduates, California is turning away tens of thousands of qualified residents for admission to its four-year universities.(d) Thousands of potential students are place-bound without adequate access to a four-year public university.(e) There is an acute need for increased student housing, and the inadequate availability of such housing serves as an obstacle to the ability of students to pursue and complete their degrees.
SEC. 2. The Legislature finds and declares all of the following:
### SEC. 2.
(a) Californias economic and social prosperity depends on a higher education system that keeps pace with Californias growth.
(b) By 2030, California is estimated to fall 1,100,000 college graduates short of demand in the job market.
(c) Despite the need for more college graduates, California is turning away tens of thousands of qualified residents for admission to its four-year universities.
(d) Thousands of potential students are place-bound without adequate access to a four-year public university.
(e) There is an acute need for increased student housing, and the inadequate availability of such housing serves as an obstacle to the ability of students to pursue and complete their degrees.
SEC. 3. It is the intent of the Legislature to enact legislation to adopt the Higher Education Facilities Bond Act of 2018 to assist in meeting the capital outlay financing needs of the University of California and the California State University systems. Specifically, funding from this act is intended to be used to fund student housing, facility improvements on existing campuses, and the establishment of a fund to develop new campuses.
SEC. 3. It is the intent of the Legislature to enact legislation to adopt the Higher Education Facilities Bond Act of 2018 to assist in meeting the capital outlay financing needs of the University of California and the California State University systems. Specifically, funding from this act is intended to be used to fund student housing, facility improvements on existing campuses, and the establishment of a fund to develop new campuses.
SEC. 3. It is the intent of the Legislature to enact legislation to adopt the Higher Education Facilities Bond Act of 2018 to assist in meeting the capital outlay financing needs of the University of California and the California State University systems. Specifically, funding from this act is intended to be used to fund student housing, facility improvements on existing campuses, and the establishment of a fund to develop new campuses.
### SEC. 3.