School facilities: Kindergarten-University Public Education Facilities Bond Act of 2006.

Existing law, known as the Kindergarten-University Public Education Facilities Bond Act of 2006, which was approved by the voters at the November 7, 2006, statewide general election, among other things, authorized the issuance of $7,329,000,000 in bonds, the proceeds of which are to be allocated, in accordance with a schedule, for the construction and modernization of school facilities. Existing law authorizes the Legislature to adjust, under certain conditions, the funding amounts for the school facilities projects authorized pursuant to those provisions. This bill would prohibit the funds identified for the repair or replacement of seismically vulnerable school facilities under the act from being transferred from the Seismic Repair Subaccount of the New Construction Account for use for any purpose other than seismic repair, reconstruction, or replacement. The bill would require, in the event that the Budget Act of 2014 includes a transfer of the unencumbered funds remaining in the High Performance Schools Account to the New Construction Account or to the Modernization Account, the transferred funds to be used only for new construction or modernization projects that promote the use of designs and materials in new construction and modernization projects that include the attributes of high-performance schools, as specified. The bill would specify that the amounts to be expended for certain school facilities projects may not be adjusted until the projects eligible for the remaining unencumbered funds as of January 1, 2015, have had an opportunity to participate in the priority funding process established by the State Allocation Board. The bill would declare that it is consistent with, and furthers the purposes of, the act.