BILL NUMBER: SB 1473	AMENDED
	BILL TEXT

	AMENDED IN SENATE  APRIL 28, 2010
	AMENDED IN SENATE  APRIL 12, 2010
	AMENDED IN SENATE  MARCH 25, 2010

INTRODUCED BY   Senator Wyland

                        FEBRUARY 19, 2010

   An act to add Section 15281 to the Education Code, relating to
school facilities.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 1473, as amended, Wyland. School facilities bond proceeds:
performance audits.
   The California Constitution limits the maximum amount of any ad
valorem tax on real property to 1% of the full cash value of the
property. The California Constitution states that the 1% limitation
for ad valorem taxes does not apply to ad valorem taxes or
assessments to pay the interest and redemption charges on bonded
indebtedness incurred by a school district, community college
district, or county office of education for the construction,
reconstruction, rehabilitation, or replacement of school facilities
approved by 55% of the voters if the proposition includes specified
accountability requirements. The accountability requirements include
a requirement that the governing board of either the school district
or community college district or the county office of education
conduct an annual, independent performance audit to ensure that the
funds are expended only on the specific projects listed in the
proposition authorizing the sale of the bonds.
   This bill would require a performance audit to be conducted in
accordance with the  2007 revision of  Government
Auditing Standards issued by the Comptroller General of the United
States.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


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

  SECTION 1.  Section 15281 is added to the Education Code, to read:
   15281.  The annual, independent performance audit required by
subparagraph (C) of paragraph (3) of subdivision (b) of Section 1 of
Article XIII A of the California Constitution shall be conducted in
accordance with the  2007 revision of  Government
Auditing Standards issued by the Comptroller General of the United
States for performance audits.