BILL NUMBER: AB 2429	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Thurmond

                        FEBRUARY 19, 2016

   An act to amend Section 15103 of the Education Code, relating to
school bonds.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2429, as introduced, Thurmond. School district bonds.
   Existing law provides, for the purposes of school bonds, how the
value of taxable property will be determined.
   This bill would make nonsubstantive changes to that provision.
   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 15103 of the Education Code is amended to read:

   15103.  Notwithstanding any other  provision of 
law, for the purpose of computing the limit on the amount of bonds
 which   that  may be issued by a district
pursuant to the provisions of this chapter, the taxable property of
the district shall be determined upon the basis that the district's
assessed value has not been reduced by the exemption of the assessed
value of business inventories in the district or reduced by the
homeowner's property tax exemption.