Bill Text: CA AB2429 | 2009-2010 | Regular Session | Introduced

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Bill Title: Higher Education Facilities Bond Act of June 1990.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2010-02-22 - Read first time. [AB2429 Detail]

Download: California-2009-AB2429-Introduced.html

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BILL NUMBER: AB 2429	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Fong

                        FEBRUARY 19, 2010

   An act to amend Section 67345.1 of the Education Code, relating to
public postsecondary education.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2429, as introduced, Fong. Higher Education Facilities Bond Act
of June 1990.
   Under existing law, the Higher Education Facilities Bond Act of
June 1990 provides for the issuance of bonds in the total amount of
$450,000,000 for the construction of facilities, as specified, for
the University of California, the California State University, the
California Community Colleges, the Hastings College of the Law, and
the California Maritime Academy. The act requires the proceeds of
bonds issued and sold pursuant to that act to be deposited in the
June 1990 Higher Education Capital Outlay Bond Fund.
   This bill would make technical, nonsubstantive changes to that
act.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 67345.1 of the Education Code is amended to
read:
   67345.1.  The Legislature finds and declares all of the following:

   (a) California's economic and social prosperity relies on a higher
education  system   structure  that keeps
pace with California's growth. In the coming decades, the state's
economic  prosperity   success  will depend
on increasing the productivity of the work force and on the ability
to compete successfully in the world marketplace.
   (b) The system of public higher education in this state includes
the University of California, the California State University, the
California Community Colleges, and the California Maritime Academy.
Each of these institutions plays a vital role in maintaining
California's dominance in higher education in the United States.
   (c) Over the last several years, studies have been completed by
the University of California, the California State University, and
the California Community Colleges to assess their long-term and
short-term capital needs   requirements  .
Those studies demonstrate that the long-term and short-term needs
total, in the aggregate, several billion dollars.
   (d) The purpose of the Higher Education Facilities Bond Act of
June 1990 is to assist in meeting the capital outlay financing needs
of California's public higher education system.