• Authorizes $10 billion in state general obligation bonds for repair, upgrade, and construction of facilities at K–12 public schools (including charter schools) and community colleges.
• Provides funding for new facilities, to improve school health and safety conditions at existing facilities, and for classroom upgrades (e.g., science, engineering, transitional kindergarten, and vocational classrooms).
• Expands eligibility for financial hardship grants for small and disadvantaged school districts.
• Provides higher percentage of state matching funds to schools demonstrating greatest need.
• Requires public hearings and performance audits.
• Appropriates money from General Fund to repay bonds.

SUMMARY OF LEGISLATIVE ANALYST'S ESTIMATE OF NET STATE AND LOCAL GOVERNMENT FISCAL IMPACT:

• Increased state costs of about $500 million annually for 35 years to repay the bond.

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FINAL VOTES CAST BY THE LEGISLATURE ON AB 247 (PROPOSITION 2)
(CHAPTER 81, STATUTES OF 2024)