CaliforniaState general obligation bonds: disclosure requirements.
What it does
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 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 allows this information to be provided on the agency's internet website or the state's open data portal under certain circumstances.
More detail
This bill would require a bond act for any state general obligation bond measure that is approved by voters on and after January 1, 2026, 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 further 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 allowing 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.
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Where it stands
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Feb 2From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.Latest
- Jan 31Died pursuant to Art. IV, Sec. 10(c) of the Constitution.Major
- 2025
- May 23In committee: Held under submission.
- May 14In committee: Set, first hearing. Referred to APPR. suspense file.Minor
- Apr 24From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 22. Noes 0.) (April 23). Re-referred to Com. on APPR.Minor
- Apr 23
- Vote recorded Do pass and be re-referred to the Committee on [Appropriations] with recommendation: To Consent Calendar. Result: pass.Lower
- Apr 10Re-referred to Com. on G.O. pursuant to Assembly Rule 96.Minor
- Apr 1Re-referred to Com. on L. GOV.Minor
- Mar 28From committee chair, with author's amendments: Amend, and re-refer to Com. on L. GOV. Read second time and amended.Major
- Mar 3Referred to Com. on L. GOV.Minor
- Feb 20From printer. May be heard in committee March 22.
- Feb 19Read first time. To print.Introduced