BILL NUMBER: SB 423	AMENDED
	BILL TEXT

	AMENDED IN ASSEMBLY  JUNE 30, 2011
	AMENDED IN SENATE  MARCH 23, 2011

INTRODUCED BY   Senator Wyland

                        FEBRUARY 16, 2011

   An act to amend Section 15286 of the Education Code, relating to
school facilities.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 423, as amended, Wyland. School facilities: local bond
measures.
   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 annual, independent performance and financial audits.
   This bill would require  these annual   the
 audits  for each preceding fiscal year  to be
submitted by March 31 of each year to the  citizen's
  citizens'  oversight committee for its review.
   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 15286 of the Education Code is amended to read:

   15286.  Consistent with the provisions contained in subparagraphs
(C) and (D) of paragraph (3) of subdivision (b) of Section 1 of
Article XIII A of the California Constitution, the required annual,
independent financial and performance audits for the preceding
fiscal year shall be submitted to the citizens' oversight committee
established pursuant to Section 15278 by March 31 of each year. These
audits  shall be conducted in accordance with the Government
Auditing Standards issued by the Comptroller General of the United
States for financial and performance audits  and shall be
submitted to the citizens' oversight committee established pursuant
to Section 15278 by March 31 of each year.   .