Authorizing Bonds for Public Schools and Community College Facilities Authorize $10 billion of bonds to build and repair facilities at K-12 public schools and community colleges. Requires annual audits. Increased state costs of about $500 million annually for 35 years to repay the bond.
Proposition 2, titled Authorizing Bonds for Public Schools and Community College Facilities, was a California ballot proposition and legislative statutes that passed in the 2024 general election on November 5, 2024.[2] The proposition authorized the issuance of $10 billion in state general obligation bonds for repair, upgrade, and construction of facilities at K–12 public schools and community colleges; this also includes charter schools throughout the state of California.[3]
The proposition also allowed for the authorization of the following:[3]
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.
Results
Associated Press called a "yes" vote on Proposition 2.[2] As of November 7, 2024, AP reported that reported that 56.9% voting yes and 43.1% voting no, with 54% of votes counted.[2]
Supporters
The official support statement of the proposition argues that "many schools and community colleges are outdated and need basic health and safety repairs and upgrades to prepare students for college and careers and to retain and attract quality teachers. Prop. 2 meets those needs and requires strict taxpayer accountability so funds are spent as promised with local control."[4]
The official oppositional statement of the proposition argues that "Proposition 2 will increase our bond obligations by $10 billion, which will cost taxpayers an estimated $18 billion when repaid with interest. A bond works like a government credit card—paying off that credit card requires the government to spend more of your tax dollars! Vote NO on Prop. 2."[9]
