§ 101452 Bond Proceeds Tax Exclusion

Education Code·California

AI SummaryVerified

This law says that money raised by selling bonds in this chapter is not treated as tax money, so it doesn’t have to follow the special rules that apply to tax money.

Key Takeaways

•Money from bond sales isn’t considered tax revenue.
•It isn’t subject to the constitutional limits on tax money.
•The rule applies to all bonds covered by this chapter.

Example

A city sells bonds to pay for a new library and uses the cash to build it.

Because the money comes from bond sales, the city can spend it without having to meet the extra restrictions that apply to regular tax revenue.

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

Official Source

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§ 101452 Bond Proceeds Tax Exclusion

The proceeds from the sale of bonds authorized by this chapter are not “proceeds of taxes” as that term is used in Article XIII B of the California Constitution, and the disbursement of these proceeds is not subject to the limitations imposed by that article. (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

proceeds of taxes Article XIII B California Constitution Proposition 2

References

Official text at leginfo.legislature.ca.gov
California Legislature. Education Code. Section 101452.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References