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SACRAMENTO – Assemblyman Scott Wilk's, R-Santa Clarita, Assembly Bill 882, to ensure local Proposition 39 General Obligation bonds are paid off in a fiscally responsible manner, passed the Assembly Floor 75-0.
“This bill will protect taxpayer dollars by ensuring Prop 39 bond funds used for technology and equipment are paid off based on the life expectancy of the items being purchased,” Wilk said. “It is my hope this measure can be used as a platform to encourage further technology in the classroom to equip our students to compete in a 21st century global economy.”
AB 882 would require that the term of a bond used for the purposes of furnishing and equipping a classroom, including electronic equipment, shall not exceed 120% of the average expected economic life.
“While I support expanding technology in the classroom, using long-term bond dollars is not the correct funding source. It is irresponsible to spend long-term construction bonds on short-term items,” Wilk said. “I can't think of anyone who would take out a 30-year loan to buy a laptop. School districts shouldn't either.”
The bill now heads to the Senate.