Elders Living with Dignity, Empathy, Respect, and Support (ELDERS) Bond Act.

Existing state and federal law provides for various programs to provide services to elderly persons, as specified. This bill would provide for submission to the voters of the Elders Living with Dignity, Empathy, Respect, and Support (ELDERS) Bond Act of 2020. The bill would provide that, if enacted by the people, the state would be authorized to issue and sell general obligation bonds in the aggregate amount of $200,000,000. The proceeds of these bonds would be placed in a fund, which would be appropriated to the Controller, without regard to fiscal years, for allocation, at the request of the Treasurer. The bill would provide that money in the fund would be awarded by the California Health Facilities Financing Authority to public or private nonprofit agencies or organizations for the purpose of acquiring, renovating, constructing, or purchasing equipment for specialized day services centers for adults with chronic medical, cognitive, or behavioral health conditions, including, but not limited to, Alzheimer's disease or related dementia, funding startup costs of eligible facilities, or program expansion of eligible facilities, as specified. The bill would make legislative findings and declarations relating to California's senior population.