Education finance: school facilities: Public Preschool, K–12, and College Health and Safety Bond Act of 2024.
The potential effects of SB 28 on state education laws are considerable, as it empowers local school districts to seek increased financial resources for pivotal construction projects. It modifies existing laws governing the financing of educational facilities, raising the limit from 1.25% to 2% of taxable property for standard school bonds and from 2.5% to 4% when combining bonds. By establishing the 2024 State School Facilities Fund, the bill creates a structured approach to prioritize funding for seismic safety, broadband enhancements, and lead contamination mitigation in drinking water at school sites, thereby directly addressing environmental health concerns prevalent in numerous California schools.
Senate Bill 28, introduced by Senator Glazer, addresses education finance through the proposed Public Preschool, K12, and College Health and Safety Bond Act of 2024. This legislation seeks to modernize school facilities and address critical health and safety needs by allowing for the issuance of state general obligation bonds totaling $15.5 billion. The bill aims to enhance funding for construction and modernization efforts across public educational institutions if approved by voters in the upcoming March 2024 primary election. Notably, it raises the bonding limits for school districts and community colleges, allowing districts to issue bonds equating to a higher percentage of their taxable property than previously permitted, thus amplifying their capacity to fund necessary infrastructure improvements.
Some contention exists around the approval and funding procedures laid out in SB 28, particularly regarding the conditions imposed on school districts to develop a five-year facilities master plan for eligibility to access these funds. While proponents argue this is a crucial step to ensure thoughtful planning and resource allocation, critics express concerns over the potential bureaucratic hurdles and the feasibility for smaller districts to comply. This legislation may also influence the landscape of local governance as it centralizes authority over funding and project management within state agencies, potentially limiting local control in infrastructure development.