BILL NUMBER: AB 1278	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Harkey

                        FEBRUARY 27, 2009

   An act to amend Section 9088 of, and to add Section 13281.5 to,
the Elections Code, relating to elections.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 1278, as introduced, Harkey. Elections: initiatives.
   Existing law requires that ballot labels for state measures voted
on at elections contain specified information. Existing law requires
the Legislative Analyst to prepare a discussion of the state's
current bonded indebtedness for the ballot pamphlet at a statewide
general election in which a state bond measure is submitted for voter
approval.
   This bill would require the Legislative Analyst to include
additional information in the ballot pamphlet for an election for
each state initiative measure that proposes the issuance of a state
bond. The bill also would require that the ballot labels for those
state bond measures include additional information relating to the
proposed bond.
   Because the bill would require local elections officials to
provide additional information for state bond measures on election
ballots, it would impose 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 these
statutory provisions.
   Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: yes.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 9088 of the Elections Code is amended to read:
   9088.  (a) At each statewide election at which state bond measures
will be submitted to the voters for their approval or rejection, the
ballot pamphlet for that election shall include a discussion,
prepared by the Legislative Analyst, of the state's current bonded
indebtedness situation.
   (b) This discussion shall include information as to the dollar
amount of the state's current authorized and outstanding bonded
indebtedness, the approximate percentage of the state's General Fund
revenues  which   that  are required to
service this indebtedness, and the expected impact of the issuance of
the bonds to be approved at the election on the items specified in
this subdivision.  In cases where   If  a
bond measure allocates funds for programs, the discussion shall also
include, to the extent practicable, the proportionate share of funds
for each major program funded by the measure.
   (c) The discussion required by this section shall appear on a
separate page in the ballot pamphlet immediately following the
rebuttal to the argument against the last ballot measure included in
the ballot pamphlet. 
   (d) (1) Each initiative measure that proposes the issuance of a
state bond shall include within the ballot pamphlet a description,
prepared by the Legislative Analyst, of the measure containing all of
the following information that shall be printed in ____ typeface and
indented from the discussion described in subdivision (a): 

   (A) The total amount of the proposed bond indebtedness.  

   (B) The total amount of interest that would be paid over the term
of the proposed bond.  
   (C) The total of the amounts in subparagraphs (A) and (B). 

   (2) The description prepared by the Legislative Analyst shall also
inform the voters of the following:  
   (A) By approving the measure, they are authorizing the state to
incur debt.  
   (B) Whether tax revenue will be used to repay part or all of the
proposed bond indebtedness.  
   (C) Repayment of the proposed bond indebtedness may take priority
over funding provided to local government or provided for public
safety services and other services voters expect to be provided by
the state. 
  SEC. 2.  Section 13281.5 is added to the Elections Code, to read:
   13281.5.  (a) If a state initiative measure on the ballot proposes
the issuance of a state bond, the ballot label for the measure shall
contain the following information prepared by the Legislative
Analyst, printed in ____ typeface and indented from other material
printed on the ballot label:
   (1) The total amount of the proposed bond indebtedness.
   (2) The total amount of interest that would be paid over the term
of the proposed bond.
   (3) The total of the amounts in paragraphs (1) and (2).
   (b) In addition to the information required by subdivision (a),
the ballot shall include an analysis, prepared by the Legislative
Analyst, of the financial rating category that may be assigned to the
proposed bond by a bond underwriter.
  SEC. 3.  If the Commission on State Mandates determines that this
act contains costs mandated by the state, reimbursement to local
agencies and school districts for those costs shall be made pursuant
to Part 7 (commencing with Section 17500) of Division 4 of Title 2 of
the Government Code.