Elections: local bond measures: tax rate statement.

Existing law requires local governments, when submitting for voter approval a bond measure that will be secured by an ad valorem tax, to provide the voters with a statement that includes estimates of the tax rates required to fund the measure. Tax rates are expressed as the rate per $100 of assessed valuation on all property to be taxed to fund the bond measure. This bill would instead require that the tax rate be expressed as the rate per $1,000 of assessed valuation on all property to be taxed to fund the bond measure.