AB 555

Under current law, with certain exceptions, if a school board wishes to borrow

money or exceed the revenue limit otherwise applicable to the school district, it must

obtain the approval of the school district's electors at a referendum. A referendum

authorizing borrowing may be held at a special election called for that purpose, or

at the next regularly scheduled primary or election held not earlier than 45 days after

adopting the borrowing resolution. Similarly, a referendum to exceed the district's

revenue limit may be held at a special election or at the next succeeding spring

primary or election or partisan primary (held in August) or election held not earlier

than 70 days after the resolution to exceed the limit is filed.

This bill provides that a referendum authorizing borrowing must be submitted

to the electors of the school district at the next regularly scheduled primary or

election held not earlier than 70 days after the adoption of the resolution, with one

exception. If the school board determines that an emergency project is necessary as

a result of unforeseen circumstances that occurred since 70 days before the most

recent regularly scheduled primary or election and that cannot wait to be addressed

until the next regularly scheduled primary or election, the school board may call a

special election for the purpose of submitting the resolution to the electors.

The bill also provides that a referendum authorizing a school board to exceed

the district's revenue limit must be submitted to the electors of the school district at

the next succeeding partisan primary or general election (in an even-numbered

year) or at a special election held on the Tuesday after the first Monday in November

in an odd-numbered year.