Prop. 2 would see the state borrow $10 billion to fund school building efforts. Here’s what you should know about it.
Proposition 2 is among the 10 statewide ballot measures that California voters will get to weigh in on this fall. Here’s what you need to know about it.Prop. 2 would see the state borrow $10 billion in order to provide $8.5 billion for TK-12 school facilities and $1.5 billion for community college facilities. The measure needs a simple majority to pass.
It would cost the state about $500 million each year over a 35-year period to repay this bond, which represents less than one half of 1 percent of the state’s general budget, according to the Legislative Analyst’s Office.The state’s current pool of school facilities bond money is running out. Prop. 2 would help reduce an outstanding state bond waiting list of more than 870 school projects totaling $3.
California education leaders say many schools desperately need replacing. More than a third of students attended public K-12 schools that did not meet minimum facility standards as of 2020, according to a report by Public Policy Institute of California, and there are more than $100 billion in facility needs over the next decade.
Other critics say they support Prop. 2 and the idea of raising school bond funding, but still find fault with the measure because it would do little to resolve what they say are existing inequities baked into the way the state doles out school facilities funds.
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Your guide to Proposition 2, California’s $10 billion school bond measureProp. 2 would see the state borrow $10 billion to fund school building efforts. Here’s what you should know about it.
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