Bill Full Text
Home
-
Bills
-
Bill
-
Authors
-
Dates
-
Locations
-
Analyses
-
Organizations
<?xml version="1.0" ?>
<ns0:MeasureDoc xmlns:html="http://www.w3.org/1999/xhtml" xmlns:ns0="http://lc.ca.gov/legalservices/schemas/caml.1#" xmlns:ns3="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" version="1.0" xsi:schemaLocation="http://lc.ca.gov/legalservices/schemas/caml.1# xca.1.xsd">
<ns0:Description>
<ns0:Id>20250AB__175499INT</ns0:Id>
<ns0:VersionNum>99</ns0:VersionNum>
<ns0:History>
<ns0:Action>
<ns0:ActionText>INTRODUCED</ns0:ActionText>
<ns0:ActionDate>2026-02-09</ns0:ActionDate>
</ns0:Action>
</ns0:History>
<ns0:LegislativeInfo>
<ns0:SessionYear>2025</ns0:SessionYear>
<ns0:SessionNum>0</ns0:SessionNum>
<ns0:MeasureType>AB</ns0:MeasureType>
<ns0:MeasureNum>1754</ns0:MeasureNum>
<ns0:MeasureState>INT</ns0:MeasureState>
</ns0:LegislativeInfo>
<ns0:AuthorText authorType="LEAD_AUTHOR">Introduced by Assembly Member Pacheco</ns0:AuthorText>
<ns0:AuthorText authorType="COAUTHOR_OPPOSITE">(Coauthor: Senator Allen)</ns0:AuthorText>
<ns0:Authors>
<ns0:Legislator>
<ns0:Contribution>LEAD_AUTHOR</ns0:Contribution>
<ns0:House>ASSEMBLY</ns0:House>
<ns0:Name>Pacheco</ns0:Name>
</ns0:Legislator>
<ns0:Legislator>
<ns0:Contribution>COAUTHOR</ns0:Contribution>
<ns0:House>SENATE</ns0:House>
<ns0:Name>Allen</ns0:Name>
</ns0:Legislator>
</ns0:Authors>
<ns0:Title>An act to amend Sections 19967 and 19999 of the Education Code, and to amend Sections 16724 and 16786, and to add Section 16724.2 to, the Government Code, relating to public finance. </ns0:Title>
<ns0:RelatingClause>public finance</ns0:RelatingClause>
<ns0:GeneralSubject>
<ns0:Subject>State general obligation bonds: requirements.</ns0:Subject>
</ns0:GeneralSubject>
<ns0:DigestText>
<html:p>Existing law, the State General Obligation Bond Law, generally sets forth the procedures for the issuance and sale of bonds governed by its provisions and for the disbursal of the proceeds of the sale of those bonds. Existing law specifies various provisions required for inclusion in a bond act. Existing law requires any state bond measure approved on or after January 1, 2004, to be subject to an annual reporting process, with the head of the lead state agency administering the bond proceeds reporting certain information about the projects being funded to the Legislature and the Department of Finance. Existing law permits this information to be provided on the agency’s internet website or the state’s open data portal under certain circumstances. Existing law authorizes the costs of the report to be included in the cost of administering the bond act unless prohibited by the bond act.</html:p>
<html:p>For any state general obligation bond measure that is approved by voters on and after January 1, 2027, this bill would require a bond act to include specified information about the objectives of the bond expenditure and related data. The bill would also require the head of the lead state agency administering the bond to post on its internet website a notification that contains, among other information, details about the programs and projects authorized to be funded by the bond. The bill would require each state agency subject to these provisions to provide a written report to the Department of Finance, the Legislative Analyst, and specified legislative committees that contains certain information regarding the general obligation bond, in accordance with the above-described provision permitting this information to be provided on the agency’s internet website or the state’s online data portal. The bill would require the report to include, among other information, whether
the project, grant, or other expenditure of bond proceeds has been done in a timely manner. The bill would require a bond act to include a provision requiring the cost of the report to be included in the cost of administering the bond act, and would require the cost of compliance with the above-described report requirements be included in the cost of administering the bond act. The bill would also make non-substantive and conforming changes to certain cross-references.</html:p>
</ns0:DigestText>
<ns0:DigestKey>
<ns0:VoteRequired>MAJORITY</ns0:VoteRequired>
<ns0:Appropriation>NO</ns0:Appropriation>
<ns0:FiscalCommittee>YES</ns0:FiscalCommittee>
<ns0:LocalProgram>NO</ns0:LocalProgram>
</ns0:DigestKey>
<ns0:MeasureIndicators>
<ns0:ImmediateEffect>NO</ns0:ImmediateEffect>
<ns0:ImmediateEffectFlags>
<ns0:Urgency>NO</ns0:Urgency>
<ns0:TaxLevy>NO</ns0:TaxLevy>
<ns0:Election>NO</ns0:Election>
<ns0:UsualCurrentExpenses>NO</ns0:UsualCurrentExpenses>
<ns0:BudgetBill>NO</ns0:BudgetBill>
<ns0:Prop25TrailerBill>NO</ns0:Prop25TrailerBill>
</ns0:ImmediateEffectFlags>
</ns0:MeasureIndicators>
</ns0:Description>
<ns0:Bill id="bill">
<ns0:Preamble>The people of the State of California do enact as follows:</ns0:Preamble>
<ns0:BillSection id="id_0F788374-D21A-4DB8-9A85-1F53C0570C86">
<ns0:Num>SECTION 1.</ns0:Num>
<ns0:Content>
<html:p>This act shall be known, and may be cited, as the Bond Outcomes and Reporting Act.</html:p>
</ns0:Content>
</ns0:BillSection>
<ns0:BillSection id="id_6A6335D5-DB5A-46DE-B53E-2C2FD2144D9C">
<ns0:Num>SEC. 2.</ns0:Num>
<ns0:Content>
<html:p>
(a)
<html:span class="EnSpace"/>
The Legislature finds and declares all of the following:
</html:p>
<html:p>
(1)
<html:span class="EnSpace"/>
Upon approval by California voters, general obligation bonds are used to make important investments in the state’s infrastructure and to meet specific funding needs.
</html:p>
<html:p>
(2)
<html:span class="EnSpace"/>
As the fourth largest economy in the world, and with nearly 40,000,000 in population, California needs to make ongoing investments in its infrastructure.
</html:p>
<html:p>
(3)
<html:span class="EnSpace"/>
Bond expenditures and related information should be provided to voters to promote greater transparency and trust of the voters who approve bond funding for the purpose of ensuring a vital infrastructure
future for California.
</html:p>
<html:p>
(4)
<html:span class="EnSpace"/>
The public should be assured that bond funds will be used as the voters intended.
</html:p>
<html:p>
(5)
<html:span class="EnSpace"/>
Bond funds should be spent efficiently, effectively, and in the best interests of Californians.
</html:p>
<html:p>
(6)
<html:span class="EnSpace"/>
Accountability regarding the expenditure of bond funds begins with establishing criteria for determining whether the intended outcomes are being achieved.
</html:p>
<html:p>
(7)
<html:span class="EnSpace"/>
Ongoing updates and auditing completed projects can help determine that the bond expenditures were consistent with the established criteria and all applicable laws.
</html:p>
<html:p>
(8)
<html:span class="EnSpace"/>
Accountability consists of ensuring bond expenditures contribute to long-lasting, meaningful improvements to critical infrastructure in this state, as
well as providing the public with readily accessible information about how the bonds they approved and are paying for are being spent annually.
</html:p>
<html:p>
(b)
<html:span class="EnSpace"/>
Therefore, it is the intent of the Legislature to accomplish all of the following:
</html:p>
<html:p>
(1)
<html:span class="EnSpace"/>
Ensure general obligation bond dollars are expended after specified objectives are established for the expenditure of those bond dollars.
</html:p>
<html:p>
(2)
<html:span class="EnSpace"/>
Ensure that the internet website information required by this act provides the public with ready access to information on how bond proceeds are being utilized and are meeting their intended goals and objectives.
</html:p>
<html:p>
(3)
<html:span class="EnSpace"/>
Establish criteria for the expenditure of bond funds to ensure that the state achieves the intended outcomes of those bond expenditures.
</html:p>
<html:p>
(4)
<html:span class="EnSpace"/>
When expending bond funds, not only should the public body comply with the authorizing bond act, the State General Obligation Bond Law, and other applicable state and federal laws, those expenditures should meet clear accountability criteria to ensure that bond proceeds are spent efficiently, effectively, and in the best interests of California.
</html:p>
<html:p>
(5)
<html:span class="EnSpace"/>
Reimburse additional costs to an agency from bond funding.
</html:p>
</ns0:Content>
</ns0:BillSection>
<ns0:BillSection id="id_307414BC-128F-407E-A068-8FAD614FE233">
<ns0:Num>SEC. 3.</ns0:Num>
<ns0:ActionLine action="IS_AMENDED" ns3:href="urn:caml:codes:EDC:caml#xpointer(%2Fcaml%3ALawDoc%2Fcaml%3ACode%2Fcaml%3ALawHeading%5B%40type%3D'TITLE'%20and%20caml%3ANum%3D'1.'%5D%2Fcaml%3ALawHeading%5B%40type%3D'DIVISION'%20and%20caml%3ANum%3D'1.'%5D%2Fcaml%3ALawHeading%5B%40type%3D'PART'%20and%20caml%3ANum%3D'11.'%5D%2Fcaml%3ALawHeading%5B%40type%3D'CHAPTER'%20and%20caml%3ANum%3D'11.'%5D%2Fcaml%3ALawHeading%5B%40type%3D'ARTICLE'%20and%20caml%3ANum%3D'2.'%5D%2Fcaml%3ALawSection%5Bcaml%3ANum%3D'19967.'%5D)" ns3:label="fractionType: LAW_SECTION" ns3:type="locator">
Section 19967 of the
<ns0:DocName>Education Code</ns0:DocName>
is amended to read:
</ns0:ActionLine>
<ns0:Fragment>
<ns0:LawSection id="id_2655C32B-D068-475B-9FD4-A36F21F633A1">
<ns0:Num>19967.</ns0:Num>
<ns0:LawSectionVersion id="id_F306FB28-B99D-4AC3-8422-B05B85D257F2">
<ns0:Content>
<html:p>
(a)
<html:span class="EnSpace"/>
A facility, or the part thereof, acquired, constructed, remodeled, or rehabilitated with grants received pursuant to this chapter shall be dedicated to public library direct service use for a period of not less than 20 years following completion of the project, or the useful life of the building, whichever is longer.
</html:p>
<html:p>
(b)
<html:span class="EnSpace"/>
If the facility, or part thereof, acquired, constructed, remodeled, or rehabilitated with grants received pursuant to this chapter ceases to be used for public library direct service prior to the expiration of the period specified in subdivision (a), the board shall be entitled to recover from the grant recipient or the recipient’s successor in the maintenance of the facility, an amount which bears the same ratio to the value of the facility, or
the appropriate part thereof, at the time it ceased to be used from public library direct service as the amount of the grant bore to the cost of the facility or appropriate part thereof. For purposes of this subdivision, the value of the facility, or the appropriate part thereof, shall be determined by the mutual agreement of the parties, or through an action brought for that purpose in the superior court.
</html:p>
<html:p>
(c)
<html:span class="EnSpace"/>
The board may release the grant recipient or the recipient’s successor in the maintenance of the facility from its obligation under subdivision (a), and waive the requirements of subdivision (b), if the board determines that so doing would not diminish the quality of public library service in the community served by the facility.
</html:p>
<html:p>
(d)
<html:span class="EnSpace"/>
Notwithstanding
paragraph (6) of subdivision (a) of Section 16724 of the Government Code, moneys recovered pursuant to subdivision (b) shall be deposited in the fund, and shall be available for the purpose of awarding grants for other projects.
</html:p>
</ns0:Content>
</ns0:LawSectionVersion>
</ns0:LawSection>
</ns0:Fragment>
</ns0:BillSection>
<ns0:BillSection id="id_FB0758E3-1D36-497E-B59A-76AF7514A8E5">
<ns0:Num>SEC. 4.</ns0:Num>
<ns0:ActionLine action="IS_AMENDED" ns3:href="urn:caml:codes:EDC:caml#xpointer(%2Fcaml%3ALawDoc%2Fcaml%3ACode%2Fcaml%3ALawHeading%5B%40type%3D'TITLE'%20and%20caml%3ANum%3D'1.'%5D%2Fcaml%3ALawHeading%5B%40type%3D'DIVISION'%20and%20caml%3ANum%3D'1.'%5D%2Fcaml%3ALawHeading%5B%40type%3D'PART'%20and%20caml%3ANum%3D'11.'%5D%2Fcaml%3ALawHeading%5B%40type%3D'CHAPTER'%20and%20caml%3ANum%3D'12.'%5D%2Fcaml%3ALawHeading%5B%40type%3D'ARTICLE'%20and%20caml%3ANum%3D'2.'%5D%2Fcaml%3ALawSection%5Bcaml%3ANum%3D'19999.'%5D)" ns3:label="fractionType: LAW_SECTION" ns3:type="locator">
Section 19999 of the
<ns0:DocName>Education Code</ns0:DocName>
is amended to read:
</ns0:ActionLine>
<ns0:Fragment>
<ns0:LawSection id="id_0B814F7A-D7B9-49CA-BCE4-FDD0A97415EC">
<ns0:Num>19999.</ns0:Num>
<ns0:LawSectionVersion id="id_4A759532-52BC-40EA-A31F-47F8758EEA16">
<ns0:Content>
<html:p>
(a)
<html:span class="EnSpace"/>
A facility, or the part thereof, acquired, constructed, or remodeled, or rehabilitated with grants received pursuant to this chapter shall be dedicated to public library direct service use for a period of not less than 20 years following completion of the project.
</html:p>
<html:p>
(b)
<html:span class="EnSpace"/>
The interest of the state in land or a facility, or both, pursuant to the funding of a project under this chapter, as described in subdivision (a), may be transferred by the State Librarian from the land or facility, or both, for which that funding was granted to a replacement site and facility acquired or constructed for the purpose of providing public library direct service.
</html:p>
<html:p>
(c)
<html:span class="EnSpace"/>
If the facility, or any part thereof, acquired,
constructed, remodeled, or habilitated with grants received pursuant to this chapter ceases to be used for public library direct service prior to the expiration of the period specified in subdivision (a), the board is entitled to recover, from the grant recipient or the recipient’s successor in the maintenance of the facility, an amount that bears the same ratio to the value of the facility, or the appropriate part thereof, at the time it ceased to be used for public library direct service as the amount of the grant bore to the cost of the facility or the appropriate part thereof. For purposes of this subdivision, the value of the facility, or the appropriate part thereof, is determined by the mutual agreement of the board and the grant recipient or successor, or through an action brought for that purpose in the superior court.
</html:p>
<html:p>
(d)
<html:span class="EnSpace"/>
Notwithstanding
paragraph (6) of subdivision (a) of Section 16724 of the Government Code, any money recovered pursuant to subdivision (c) shall be deposited in the fund, and shall be available for the purpose of awarding grants for other projects.
</html:p>
</ns0:Content>
</ns0:LawSectionVersion>
</ns0:LawSection>
</ns0:Fragment>
</ns0:BillSection>
<ns0:BillSection id="id_499CCC10-39AA-4C6A-9C11-F5E3AECF4E3C">
<ns0:Num>SEC. 5.</ns0:Num>
<ns0:ActionLine action="IS_AMENDED" ns3:href="urn:caml:codes:GOV:caml#xpointer(%2Fcaml%3ALawDoc%2Fcaml%3ACode%2Fcaml%3ALawHeading%5B%40type%3D'TITLE'%20and%20caml%3ANum%3D'2.'%5D%2Fcaml%3ALawHeading%5B%40type%3D'DIVISION'%20and%20caml%3ANum%3D'4.'%5D%2Fcaml%3ALawHeading%5B%40type%3D'PART'%20and%20caml%3ANum%3D'3.'%5D%2Fcaml%3ALawHeading%5B%40type%3D'CHAPTER'%20and%20caml%3ANum%3D'4.'%5D%2Fcaml%3ALawHeading%5B%40type%3D'ARTICLE'%20and%20caml%3ANum%3D'1.'%5D%2Fcaml%3ALawSection%5Bcaml%3ANum%3D'16724.'%5D)" ns3:label="fractionType: LAW_SECTION" ns3:type="locator">
Section 16724 of the
<ns0:DocName>Government Code</ns0:DocName>
is amended to read:
</ns0:ActionLine>
<ns0:Fragment>
<ns0:LawSection id="id_BC2DAB9C-08C6-499A-97CA-89B69E709406">
<ns0:Num>16724.</ns0:Num>
<ns0:LawSectionVersion id="id_361A328B-6C1A-4DAE-89B9-136B9AAAC084">
<ns0:Content>
<html:p>
(a)
<html:span class="EnSpace"/>
For any state bond measure approved by the voters before January 1, 2027, the bond act shall contain all of the following provisions:
</html:p>
<html:p>
(1)
<html:span class="EnSpace"/>
A statement of the total amount of bonds authorized to be issued and the purpose for which the proceeds from the sale of the bonds may be used.
</html:p>
<html:p>
(2)
<html:span class="EnSpace"/>
The creation of a committee and fund, and the naming of the board as these items are defined in Section 16722.
</html:p>
<html:p>
(3)
<html:span class="EnSpace"/>
A statement that the bonds are valid obligations of the state and a pledge of the full faith and credit of the state for the punctual payment of both principal and interest thereof.
</html:p>
<html:p>
(4)
<html:span class="EnSpace"/>
An appropriation from the General Fund in the State Treasury of the sum annually as shall be necessary to pay the principal and interest on the bonds as they become due and payable.
</html:p>
<html:p>
(5)
<html:span class="EnSpace"/>
A requirement that there be collected annually in the same manner and at the same time as other state revenue is collected the sum, in addition to the ordinary revenues of the state, as is required to pay the principal and interest on the bonds; and a provision making it the duty of all officers charged by law with any
duty in regard to the collections of the revenue to do and perform each and every act which is necessary to collect that additional sum.
</html:p>
<html:p>
(6)
<html:span class="EnSpace"/>
If the bond act provides that the fund shall have any receipts other than the proceeds of the sale of bonds, the proceeds of interim financing, or the investment earnings on the proceeds of bond sales or interim financing, then the bond act shall also specify whether those receipts shall be transferred to the General Fund as a reimbursement for debt service payments or be used for the same purpose for which the proceeds of the sale of the bonds may be used.
</html:p>
<html:p>
(7)
<html:span class="EnSpace"/>
A provision incorporating the provisions of this chapter, and a declaration that the provisions hereof are included in the act as though set out in full therein.
</html:p>
<html:p>
(8)
<html:span class="EnSpace"/>
A statement that the bonds may be refunded in accordance with Article 6 (commencing with Section 16780), and that approval of the authorization of the bonds by the electors includes approval of any bonds issued to refund the bonds originally issued.
</html:p>
<html:p>
(9)
<html:span class="EnSpace"/>
A statement that notwithstanding any other provision of the bond act, or of the State General Obligation Bond Law (Chapter 4 (commencing with Section 16720) of Part 3 of Division 4 of Title 2 of the Government Code), if the Treasurer sells bonds pursuant to this bond act that include a bond counsel opinion to the effect that the interest on the bonds is excluded from gross income for federal tax purposes under designated conditions, the Treasurer may maintain separate accounts for the bond proceeds invested and the investment earnings on those proceeds, and may use or direct the use of those proceeds or earnings to pay any rebate, penalty, or other payment required under federal law, or take any other action with respect to the investment and use of those bond proceeds, as may be required or desirable under federal law in order to
maintain the tax-exempt status of those bonds and to obtain any other advantage under federal law on behalf of the funds of this state.
</html:p>
<html:p>
(10)
<html:span class="EnSpace"/>
A statement that the board may request the Pooled Money Investment Board to make a loan from the Pooled Money Investment Account, in accordance with Section 16312, for the purposes of carrying out the bond act. The amount of the request shall not exceed the amount of the unsold bonds that the committee has by resolution authorized to be sold for the purpose of carrying out the bond act. The board shall execute any documents required by the Pooled Money Investment Board to obtain and repay the loan. Any amounts loaned shall be
deposited in the fund to be allocated by the board in accordance with the bond act.
</html:p>
<html:p>
(b)
<html:span class="EnSpace"/>
<html:span class="EnSpace"/>
For any state bond measure approved by the voters on or after January 1, 2027, the bond act shall contain the provisions specified in subdivision (a), in addition to a provision requiring the costs of the report, as specified in Section 16724.2, to be included in the cost of administering the bond act.
</html:p>
</ns0:Content>
</ns0:LawSectionVersion>
</ns0:LawSection>
</ns0:Fragment>
</ns0:BillSection>
<ns0:BillSection id="id_C5B6EABA-B423-4F32-9D4C-9DA0BC17A208">
<ns0:Num>SEC. 6.</ns0:Num>
<ns0:ActionLine action="IS_ADDED" ns3:href="urn:caml:codes:GOV:caml#xpointer(%2Fcaml%3ALawDoc%2Fcaml%3ACode%2F%2Fcaml%3ALawSection%5Bcaml%3ANum%3D'16724.2'%5D)" ns3:label="fractionType: LAW_SECTION" ns3:type="locator">
Section 16724.2 is added to the
<ns0:DocName>Government Code</ns0:DocName>
, to read:
</ns0:ActionLine>
<ns0:Fragment>
<ns0:LawSection id="id_50EE20C9-5446-49BE-A926-94D64FA47EF0">
<ns0:Num>16724.2.</ns0:Num>
<ns0:LawSectionVersion id="id_97D4D9EC-925C-4B67-849B-C4F9BD490AF1">
<ns0:Content>
<html:p>
(a)
<html:span class="EnSpace"/>
For any state bond measure approved by the voters on and after January 1, 2027, the bond act shall include all of the following:
</html:p>
<html:p>
(1)
<html:span class="EnSpace"/>
Specific goals, purposes, and objectives that the bond expenditure is intended to achieve.
</html:p>
<html:p>
(2)
<html:span class="EnSpace"/>
Detailed performance indicators for the public to have when measuring whether the bond expenditure meets the goals, purposes, and objectives established.
</html:p>
<html:p>
(3)
<html:span class="EnSpace"/>
Data collection requirements to enable the public to determine whether the bond expenditure is meeting, failing to meet, or exceeding those specific goals, purposes, and objectives.
</html:p>
<html:p>
(4)
<html:span class="EnSpace"/>
Specific data and baseline measurements to be collected and remitted annually while the bond is being expended.
</html:p>
<html:p>
(b)
<html:span class="EnSpace"/>
The criteria established shall evaluate the intended outcomes of the bond both at the issuance of the bond and once the funded projects are completed.
</html:p>
<html:p>
(c)
<html:span class="EnSpace"/>
The head of the lead state agency administering the bond shall post on its internet website a notification that contains the items set forth in subdivision (a). This notification shall include, but not be limited to, the following information:
</html:p>
<html:p>
(1)
<html:span class="EnSpace"/>
An overview of the various programs and projects authorized to be funded by the bond.
</html:p>
<html:p>
(2)
<html:span class="EnSpace"/>
A summary of the status of bond use by major program category.
</html:p>
<html:p>
(3)
<html:span class="EnSpace"/>
An
explanation of the accountability criteria that will govern the use of the bond funds.
</html:p>
<html:p>
(4)
<html:span class="EnSpace"/>
Detailed information about bond use by program or individual infrastructure project.
</html:p>
<html:p>
(5)
<html:span class="EnSpace"/>
Objectives of the program or project to be funded by the bond.
</html:p>
<html:p>
(d)
<html:span class="EnSpace"/>
Any relevant state agency shall cooperate in the implementation of this section.
</html:p>
<html:p>
(e)
<html:span class="EnSpace"/>
(1)
<html:span class="EnSpace"/>
Each lead state agency that is subject to this section shall provide a written report to the Department of Finance, the Legislative Analyst, the Assembly Committee on Budget, and the Senate Committee on Budget and Fiscal Review that, at a minimum, sets forth the following information regarding the general obligation bond:
</html:p>
<html:p>
(A)
<html:span class="EnSpace"/>
Whether the
project, grant, or other expenditure of bond proceeds has been done in a timely and efficient manner.
</html:p>
<html:p>
(B)
<html:span class="EnSpace"/>
Whether the project, grant, or other expenditure of bond proceeds has or has not achieved its intended purpose.
</html:p>
<html:p>
(C)
<html:span class="EnSpace"/>
Whether the project, grant, or other expenditure of bond proceeds was done in compliance with all statutory and regulatory requirements.
</html:p>
<html:p>
(2)
<html:span class="EnSpace"/>
The written report required pursuant to paragraph (1) shall also be posted conspicuously on the state agency’s internet website, in accordance with subdivision (c) of Section 16724.4.
</html:p>
<html:p>
(3)
<html:span class="EnSpace"/>
The report required pursuant to paragraph (1) shall be submitted in compliance with Section 9795.
</html:p>
<html:p>
(f)
<html:span class="EnSpace"/>
The cost of the report, as specified in
subdivision (e), shall be included in the cost of administering the bond act as provided in subdivision (b) of Section 16724.
</html:p>
</ns0:Content>
</ns0:LawSectionVersion>
</ns0:LawSection>
</ns0:Fragment>
</ns0:BillSection>
<ns0:BillSection id="id_B6F44DC5-BA21-402D-822F-EF343C582269">
<ns0:Num>SEC. 7.</ns0:Num>
<ns0:ActionLine action="IS_AMENDED" ns3:href="urn:caml:codes:GOV:caml#xpointer(%2Fcaml%3ALawDoc%2Fcaml%3ACode%2Fcaml%3ALawHeading%5B%40type%3D'TITLE'%20and%20caml%3ANum%3D'2.'%5D%2Fcaml%3ALawHeading%5B%40type%3D'DIVISION'%20and%20caml%3ANum%3D'4.'%5D%2Fcaml%3ALawHeading%5B%40type%3D'PART'%20and%20caml%3ANum%3D'3.'%5D%2Fcaml%3ALawHeading%5B%40type%3D'CHAPTER'%20and%20caml%3ANum%3D'4.'%5D%2Fcaml%3ALawHeading%5B%40type%3D'ARTICLE'%20and%20caml%3ANum%3D'6.'%5D%2Fcaml%3ALawSection%5Bcaml%3ANum%3D'16786.'%5D)" ns3:label="fractionType: LAW_SECTION" ns3:type="locator">
Section 16786 of the
<ns0:DocName>Government Code</ns0:DocName>
is amended to read:
</ns0:ActionLine>
<ns0:Fragment>
<ns0:LawSection id="id_FC9198B3-3F09-42F1-AC39-A692B7290B46">
<ns0:Num>16786.</ns0:Num>
<ns0:LawSectionVersion id="id_0215F36A-B1FE-40C3-86F0-3B44A52078D6">
<ns0:Content>
<html:p>This article applies only to the refunding of bonds authorized at a statewide election held after the effective date of this article pursuant to a bond act expressly mentioning the right of the state to refund the bonds so authorized. In any such bond act, the provisions included therein pursuant to paragraphs (3), (4), (5), and (6) of subdivision (a) of Section 16724 apply to refunding bonds to the same extent and in the same manner as those provisions applied to the bonds being refunded.</html:p>
</ns0:Content>
</ns0:LawSectionVersion>
</ns0:LawSection>
</ns0:Fragment>
</ns0:BillSection>
</ns0:Bill>
</ns0:MeasureDoc>