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HomeEducation CodeCh. 2Art. 1§ 101410 School Bond Proceeds Allocation

§ 101410 School Bond Proceeds Allocation

Education Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 101410 School Bond Proceeds Allocation

This law says that money raised from most new bonds goes into a special 2024 school facilities fund, and a state board decides how to spend that money.

Key Takeaways

  • •Money from new bonds (not refunding bonds) must go into the 2024 State School Facilities Fund.
  • •The State Allocation Board decides how that money is used for school facilities.
  • •Refunding bonds are excluded from this rule.

Example

The state sells bonds to raise cash for building new classrooms in public schools.

The cash from those bonds (except any money from bonds that are just refinancing old debt) is put into the 2024 State School Facilities Fund, and the State Allocation Board chooses which schools get the money.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 101410 School Bond Proceeds Allocation

The proceeds of bonds issued and sold pursuant to this chapter, not including the proceeds of any refunding bonds issued in accordance with Section 101430, shall be deposited in the 2024 State School Facilities Fund established in the State Treasury under Section 17070.42, and shall be allocated by the State Allocation Board pursuant to this chapter. (Added by Stats. 2024, Ch. 81, Sec. 28. (AB 247) Approved in Proposition 2 at the November 5, 2024, election. Effective November 6, 2024.)

Last verified: January 10, 2026

Key Terms

2024 State School Facilities FundState Allocation Boardrefunding bonds

Related Statutes

  • § 100410 School Facilities Bond Allocation
  • § 100610 School Bond Proceeds Allocation
  • § 100810 School Bond Proceeds Allocation
  • § 101010 School Bond Proceeds Allocation
  • § 101120 School Bond Fund Allocation

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Education Code. Section 101410.
View Official Source