Local ballot measures: statement of the measure.

Existing law requires a local government body, when submitting for voter approval a bond measure the security for which constitutes a lien on the property for ad valorem taxes, to provide the voters a statement that includes estimates of tax rates and debt service in connection with the measure. This statement is required to be included in any voter information guide for the bond measure, as specified. Existing law requires that the ballots used when voting on a measure proposed by a local governing body or submitted to the voters as an initiative or referendum measure have printed on them specified information, including a statement describing the measure. If the proposed measure imposes a tax or raises the rate of a tax, existing law requires that the statement of the measure include the amount of money to be raised annually and the rate and duration of the tax to be levied. This bill would instead require that the statement for a bond measure include the best estimate from official sources of the average annual tax rate that would be required to be levied to fund the bond issue over the entire duration of the bond debt service, as specified. By imposing new duties on local elections officials, the bill would create a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that, if the Commission on State Mandates determines that the bill contains costs mandated by the state, reimbursement for those costs shall be made pursuant to the statutory provisions noted above. This bill would declare that it is to take effect immediately as an urgency statute.