2004 California Proposition 55

Proposition 55 was a California ballot proposition on the March 2, 2004 ballot. It passed with 3,239,706 (50.9%) votes in favor and 3,130,921 (49.1%) against. The official title was Kindergarten-University Public Education Facilities Bond Act of 2004. Its main provisions authorized the sale of $12.3 billion in bonds intended to relieve overcrowding and to repair public education facilities from public elementary schools through public universities.

Elections in California

Official summary
  • This act provides for a bond issue of twelve billion three hundred million dollars ($12,300,000,000) to fund necessary education facilities to relieve overcrowding and to repair older schools.
  • Funds will be targeted to areas of greatest need and must be spent according to strict accountability measures.
  • Funds will also be used to upgrade and build new classrooms in the California Community Colleges, the California State University, and the University of California, to provide adequate higher education facilities to accommodate growing student enrollment.
  • Appropriates money from General Fund to pay off bonds.

Summary of Legislative Analyst's Estimate of Net State and Local Government Fiscal Impact:

  • State costs of about $24.7 billion to pay off both the principal ($12.3 billion) and interest ($12.4 billion) costs on the bonds. Payments of about $823 million per year.
gollark: https://www.theregister.com/2019/03/05/ai_gaydar/ (headline is vaguely misleading)
gollark: I blatantly stole it from helloboi.
gollark: I may be referred to as car/cdr if desired.
gollark: The problem with spaces is that you can’t actually see them. So you can’t be sure they’re correct. Also they aren’t actually there anyway - they are the absence of code. “Anti-code” if you will. Too many developers format their code “to make it more maintainable” (like that’s actually a thing), but they’re really just filling the document with spaces. And it’s impossible to know how spaces will effect your code, because if you can’t see them, then you can’t read them. Real code wizards know to just write one long line and pack it in tight. What’s that you say? You wrote 600 lines of code today? Well I wrote one, and it took all week, but it’s the best. And when I hand this project over to you next month I’ll have solved world peace in just 14 lines and you will be so lucky to have my code on your screen <ninja chop>.
gollark: Remove the call stack and do trampolining or something?
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