This act provides for a bond issue of three billion dollars ($3,000,000,000) to provide funds for school facility improvement programs. Earmarks $2.025 billion for primary and secondary schools, and $975 million for higher education. Appropriates money from General Fund to pay off bonds. Summary of Legislative Analyst's Estimate of Net State and Local Government Fiscal Impact: State General Fund cost of about $5.2 billion to pay off both the principal ($3 billion) and interest ($2.2 billion) on the bonds. The average payment for principal and interest over 25 years would be about $208 million per year.
Legislative Vote Results
Final Votes Cast by the Legislature on AB 1168 (Proposition 203) Assembly - Ayes, 69; Noes, 6 -- Senate - Ayes, 30; Noes, 5
Popular Vote Results
Y: 3542816; A: 61.5; N: 2175917; B: 38.05
Fran Packard, President, League of Women Voters of California; Lois Tinson, President, California Teachers Association; Kirk West, President, California Chamber of Commerce
Gail Lightfoot, Chair, Libertarian Party of California; Ted Brown, Member, Executive Committee, Libertarian Party of California; Pam Probst, Teacher
Rebuttal Against Author
Carol Ruley, President, California State PTA; Howard Owens, Legislative Director, Congress of California Seniors; Dan Terry, President, California Professional Firefighters --
Public Education Facilities Bond Act of 1996. California Proposition 203 (1996).