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.
What would it do?
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.
State bonds generally do not directly raise taxes. Rather, the state typically sells bonds and pays them back with interest out of its general budget over the course of decades.
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.
Why is this on the ballot?
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 $3.4 billion in funding requests — including more than $225 million from San Diego County districts.
Voters have not passed a state school facilities bond since 2016, when they voted to provide $9 billion for K-12 schools and community colleges. The most recent proposed state bond, for $15 billion, failed four years ago, when 53 percent of voters chose to reject it.