Elections: local bond measures: tax rate statement.

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