California voters approve $10 billion school facilities bond

California voters have approved a bond proposal that will provide $10 billion in funding for upgrades at public K-12 schools and community colleges across the state.

The Los Angeles Times reports that the measure, Proposition 2, will provide $8.5 billion in facility renovations and new construction for K-12 schools. Community colleges will receive $1.5 billion.

The school bond was endorsed by both the California Democratic and Republican parties, as well as a coalition of more than 150 groups.

To receive bond money, districts must pass a local bond of their own and then apply to the School Facility Program for a funding match on a sliding scale up to 65% for renovations and 55% for new construction.

 The exact state match is based on a complicated points formula that seeks to provide a higher match to low-wealth districts that cannot afford to generate much local funding, and those with a high percentage of disadvantaged districts.

Districts that are unable to raise more than $15 million can receive up to a 100% match.