State general obligation bonds: requirements.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Appropriations
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill, titled the Bond Outcomes and Reporting Act, aims to increase transparency and accountability in how California uses general obligation bond funds. It requires future bond acts to include specific goals, performance indicators, and data collection methods to demonstrate how bond expenditures are meeting intended objectives. The bill also mandates that state agencies post regular reports on their websites detailing bond use and progress toward those goals. Ultimately, the goal is to ensure that bond funds are spent efficiently and effectively in line with voter intentions.
Key provisions
- Requires future bond acts to include specific goals, purposes, and objectives.
- Mandates the inclusion of performance indicators to measure progress toward those objectives.
- Requires annual reports detailing bond use and progress, to be posted on agency websites.
- Requires a one-page executive summary report to be submitted to the Department of Finance, Legislative Analyst, and legislative committees.
- Requires the report to include information on whether projects are completed on time and in compliance with regulations.
- Exempts program guidelines from the Administrative Procedure Act.
- Requires the cost of the report to be included in the administration of the bond act.
Who is affected
- State Agencies
- California Voters
- Legislature
- Department of Finance
- General Public
Bill text
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