California Proposition 203 (1996)
From Ballotpedia
California Proposition 203, also known as the Public Education Facilities Bond Act of 1996 was on the March 26, 1996 primary election ballot in California as a legislatively-referred state statute, where it was approved.
Election results
| California Proposition 203 (1996) | ||||
|---|---|---|---|---|
| Percentage | ||||
 Yes
| 62% | |||
| No | 38% | |||
| Total votes | 100% | |||
Text of the proposal
The language that appeared on the ballot:
- This act provides for a bond issue of three billion dollars ($3,000,000,000) to provide funds for school facility improvement programs. - Earmarks $2.025 billion for primary and secondary schools, and $975 million for higher education. - Appropriates money from General Fund to pay off bonds.
Summary of Legislative Analyst's Estimate of Net State and Local Government Fiscal Impact: - State General Fund cost of about $5.2 billion to pay off both the principal ($3 billion) and interest ($2.2 billion) on the bonds. - The average payment for principal and interest over 25 years would be about $208 million per year.
See also
External links
- Official Voter Guide to Proposition 203
- Full text of Proposition 203
- March 1996 California elections results (PDF)
