Bill Text: CA AB882 | 2015-2016 | Regular Session | Amended

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Bill Title: State publications: distribution.

Sponsorship: Partisan Bill (Republican 2)

Status: (Failed) 2016-11-30 - From Senate committee without further action. [AB882 Detail]

Download: California-2015-AB882-Amended.html

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BILL NUMBER: AB 882	AMENDED
	BILL TEXT

	AMENDED IN SENATE  JUNE 20, 2016
	AMENDED IN SENATE  JUNE 25, 2015
	AMENDED IN ASSEMBLY  MAY 20, 2015
	AMENDED IN ASSEMBLY  MAY 6, 2015

INTRODUCED BY   Assembly Member Wilk
   (Coauthor: Assembly Member Gallagher)

                        FEBRUARY 26, 2015

    An act to amend Section 15144 of the Education Code, and
to amend Section 53508.6 of the Government Code, relating to school
bonds.   An act to add Section 14900.5 to the Government
Code, relating to state publications. 


	LEGISLATIVE COUNSEL'S DIGEST


   AB 882, as amended, Wilk.  School bonds: term of bonds:
furnishing and equipping classrooms.   State
publications: distribution.  
   Existing law makes freely available to all inhabitants of the
State of California all state publications by distribution to
libraries throughout the state, with the assumption that those
libraries will keep the documents readily accessible to patrons
without charge. Existing law additionally requires that the State
Printer print sufficient copies of each state publication, the amount
of which is determined by the State Librarian, to be distributed to
libraries.  
   This bill would authorize a member of the public to copy, share,
distribute, or republish a state publication authored by the state.
 
   (1) Existing law authorizes the governing board of a school
district or community college district to order an election and
submit to the electors of the district whether the bonds of the
district should be issued and sold, and sets forth requirements in
that regard, including specifying that the term of a bond shall not
exceed 25 years from the date of the bond or bond series. 

   This bill would specify that the term of a bond issue used to
finance projects that include furnishing and equipping classrooms
shall have a weighted average maturity that does not exceed 120% of
the average reasonably expected economic life of the financed
project.  
   (2) Existing law, additionally and alternatively to the authority
described above, authorizes the issuance of bonds or refunding bonds
by a school district or community college district secured by the
levy of ad valorem taxes, and, pursuant to those provisions,
authorizes a school district or community college district to issue
bonds that do not allow for the compounding of interest and that have
a maturity greater than 30, but no greater than 40 years, in
accordance with specified requirements.  
   This bill, notwithstanding those provisions, would specify that a
bond issue used to finance projects that include furnishing and
equipping classrooms shall have a weighted average maturity that does
not exceed 120% of the average reasonably expected economic life of
the financed project. 
   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 14900.5 is added to the 
 Government Code  , to read:  
   14900.5.  A member of the public, as defined by Section 6252, may
copy, share, distribute, or republish a state publication authored by
the state.  
  SECTION 1.    Section 15144 of the Education Code
is amended to read:
   15144.  (a) The number of years the whole or any part of the bonds
are to run shall not exceed 25 years, from the date of the bonds or
the date of any series thereof.
   (b) Notwithstanding subdivision (a), a bond issue used to finance
projects that include furnishing and equipping classrooms, including,
but not limited to, purchasing electronic equipment, shall have a
weighted average maturity that does not exceed 120 percent of the
average reasonably expected economic life of the financed project.
 
  SEC. 2.    Section 53508.6 of the Government Code
is amended to read:
   53508.6.  (a) Notwithstanding any other law, a school district or
community college district may, pursuant to this article, issue bonds
that do not allow for the compounding of interest and that have a
maturity greater than 30 years, but not greater than 40 years, if the
school district or community college district does both of the
following:
   (1) Complies with the requirements of subdivisions (b) and (c) of
Section 15146 of the Education Code.
   (2) Makes a finding that the useful life of the facility financed
with the bonds that do not allow for the compounding of interest and
that have a maturity greater than 30 years, but not greater than 40
years, equals or exceeds the maturity date of those bonds.
   (b) Notwithstanding subdivision (a), a bond issue used to finance
projects that include furnishing and equipping classrooms, including,
but not limited to, purchasing electronic equipment, shall have a
weighted average maturity that does not exceed 120 percent of the
average reasonably expected economic life of the financed project.