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DGS: Office of Public School Construction: Proposition 55 (Mar. 2004) Summary

Proposition 55
The passage of Proposition 55, the Kindergarten-University Public Education Facilities Bond Act of 2004, in March 2004 provided an additional $10.0 billion in general obligation bonds for the construction and renovation of K–12 school facilities. These funds are made available through the School Facility Program, and continue to assisting school districts with overcrowding, accommodating future enrollment growth and repairing and modernization older facilities.

Mission Statement
As staff to the State Allocation Board, the Office of Public School Construction facilitates the processing of school applications and makes funding available to qualifying school districts. These actions enable school districts to build safe and adequate school facilities for their children in an expeditious and cost-effective manner.

The following chart summarizes the K-12 facilities funding provided in Proposition 55:

Program	Amount Authorized	Amount Funded	Balance
New Construction	$4,960,000,000	$4,960,000,000	$0
Modernization	$2,250,000,000	$2,194,496,986	$55,503,014
Critically Overcrowded Schools	$2,440,000,000	$1,720,495,812	$719,504,188
Charter School	$300,000,000	$219,141,308	$80,858,692
Joint Use	$50,000,000	$50,000,000	$0
Total:	$10,000,000,000	$9,144,134,106	$855,865,894

Program Accomplishments
The statewide bond funds provided under the School Facility Program represent tremendous accomplishments benefitting the students of California.

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