Sacramento — Today, Assemblyman Curt Hagman’s (R-Chino Hills) Assembly Bill 308, which would ensure school facility funding programs are not taken advantage of, was signed into law by Governor Jerry Brown.
“Assembly Bill 308 is a pragmatic approach to establishing a more efficient and sustainable system for school facility funding,” said Assemblyman Hagman. “This bill ensures that capital improvement money allocated from the state goes to the purpose funded, while at the same time creating more funding opportunities for educational institutions.”
AB 308 authorizes the State Allocation Board to establish a program requiring school districts, charter schools, and county offices of education (COE) that sell real property initially purchased, constructed or modernized using state funds within 10 years prior, to return to the state general fund the state’s portion in specified instances. Exceptions apply when the property is sold to another school district, charter school, COE, or agency that will use the facility for child care/preschools, or if the proceeds from the sale of the property are used for capital improvements.