Yes vote pulls ahead on California’s Prop. 2 funding to fix aging schools, early results show
A proposed $10 billion in bond financing to fund repairs, renovations and new buildings for K12 schools and community colleges across the state is pulling ahead among California voters in early poll results.
As of 8:57 p.m., 57% of voters approved Prop 2, according to unofficial election results with 22.9% of precincts reporting.
Voters in Sacramento County are slightly more supportive of the education finance bond than the rest of the state so far, with 58% of area voters approving the proposition.
It’s the second time in five years voters were asked to allow the state to take on debt — California voters rejected a $15 billion school bond in March 2020. The last successful school bond passed in 2016 and its $9 billion in funds have since been spent, leaving very little in the bank for school repairs.
Approval of Prop 2 would not raise taxes, but would instead to the state debt. Over the course of 30 years, the bond would cost the state around $18 billion, accounting for about $500 million a year from the state budget.
Unlike other states, California does not have a consistent funding stream for school facilities. Funds for needed repairs and modernizations are mostly raised through local school property tax measures, of which there are many in the Sacramento area this election.
Schools are in desperate need of facilities updates across the state. A 2020 study showed that maintaining and improving California’s K-12 school facilities could cost up to $100 billion. It is estimated that schools in Sacramento County have $10 billion in facilities needs alone.
Supporters of Prop 2 said that the bond is necessary to provide safe and equitable resources to students across the state, where its detractors said that the state taking on more debt would be an irresponsible move.
This story was originally published November 5, 2024 at 8:26 PM.
