:: blame the extended gestation.... ::

:: Thursday, February 12, 2004 ::

Proposition 55 - University of California -:

UC Regents Endorse Prop. 55 Education Bond

The University of California Board of Regents has endorsed the Facilities Bond Acts of 2002 and 2004, which would provide funding for K-12 and higher education facility needs through 2006.

On Nov. 5, 2002, California voters approved Proposition 47, the state bond measure that will provide $13 billion for school facilities, with 59% of the vote. It authorized more than $11.4 billion for K-12 and $1.65 billion for higher education capital projects. The companion measure, on the March 2004 ballot as Proposition 55, would provide funding for facilities for public schools throughout the state – including $10 billion for K-12 and $2.3 billion for higher education.

In all, the legislation which placed the bond measures on the ballot (AB 16) authorizes a total of $27 billion in general obligation bond funds over four years to help fund K-12 and higher education facility needs. The measure received overwhelming bipartisan support in the Legislature.

UC would receive approximately $345 million per year for capital outlay for the four-year period covered by the two bond acts. The California State University and the California Community Colleges would also receive capital projects funding.

University of California's projected capital needs total $600 million per year through 2006. The university expects enrollment growth of approximately 63,000 additional students between 2000-2010.

A copy of Proposition 55 and ballot arguments, visit the Secretary of State's Proposition 55 web page. Complete 2002 election returns and county-by-county results for Proposition 47 are also available on the Secretary of State's election returns page."

:: Jim Nichols 2/12/2004 04:21:00 PM [+] ::
...