The San Ramon Valley school board will debate Tuesday whether to throw its support behind two state propositions that would increase funding for public schools if approved by California voters in November.
Proposition 51 would authorize the state to issue $9 billion in general obligation bonds to fund facility construction and improvements at K-12 schools and community colleges in the state. Proposition 55 would extend temporary income taxes on high-income earners to fund education and health care.
The school district's administration recommends the board approve resolutions in support of each proposition Tuesday night, according to superintendent Rick Schmitt.
Formally "The Kindergarten through Community College Public Education Facilities Bond Act of 2016," Prop 51 aims to create $9 billion in state funding for local school and community college facility projects.
Bond proceeds would be allocated with $3 billion for new school construction, $3 billion for school facility modernization, $2 billion for community college facilities, $500 million for charter school facilities and $500 million for facilities for career technical education programs.
State officials estimate it would cost the state about $17.6 billion to pay off the principal and interest on the bonds, with payments of about $500 million per year for 35 years from the state's general fund.
Prop 55, "The Children's Education and Health Care Protection Act," would extend for 12 more years the temporary personal income tax increases on high-income earners -- approved in 2012 as part of Prop 30 -- to fund education and health care.
The tax applies to single-filer incomes over $250,000, joint-filer incomes over $500,000 and head-of-household incomes over $340,000, with specific tax rates different depending on which of four high-income tax brackets residents fall into.
State officials estimate the tax extension would generate between $4 billion and $9 billion per year from 2019-30, depending on economic conditions. Tax revenues would be allocated at 89% to K-12 schools and 11% to community colleges, with up to $2 billion in certain years for health care programs.
Without an extension, the Prop 30 temporary income tax would be phased out starting in 2018 and then expire in 2019. The sales tax component of Prop 30, a 0.25% statewide sales tax, is set to expire at the end of this year.
As part of its proposed support resolution for Prop 55, the school board would urge the state legislature "to work with the public education community to identify stable, long-term, adequate funding solutions for public schools."
The regular school board meeting is scheduled to begin at 7 p.m. Tuesday inside the boardrooms at the district administrative complex, 699 Old Orchard Drive in Danville.
In other business
* The board will consider accepting the 2015-16 annual financial report, unaudited actuals -- figures that establish the beginning balance for each district fund for the 2016-17 budget.
The district's general fund ended last school year with almost $55.8 million, representing a reserve of about 10.7%, according to the report.
* Board members will declare Sept. 15 to Oct. 15 as Hispanic Heritage Month in the district.
* They will hear a presentation from the San Ramon Valley Council of PTAs (parent-teacher associations).
* The board will discuss accepting an easement from Shapell Industries, Inc. at the Bella Vista Elementary School site for a 21-foot strip of land at the end of Goldfield Place and the Bella Vista field.
* Earlier in the evening at 6:45 p.m., the board will meet in closed session to talk about appointing a principal and assistant principal at Dougherty Valley High School. The San Ramon campus is looking for a new leader after principal Daniel Hillman was appointed as the district's new director of facilities-construction last week.