Education finance: postsecondary education facilities: College Health and Safety Bond Act of 2026.

Assembly Member Alvarez's College Health and Safety Bond Act of 2026 proposes a state general obligation bond measure to fund construction and modernization of California's public higher education facilities, with particular focus on expanding affordable student housing and addressing critical safety needs.

The legislation requires California State University and University of California campuses to develop comprehensive five-year affordable student housing plans before receiving bond funds. These plans must detail current housing capacity, costs relative to local markets, past affordability initiatives, and specific goals for creating additional affordable units. Campuses must also outline their institutional aid policies for helping low-income students afford housing, defined as students qualifying for Cal Grant A or B awards.

The bond measure would fund facility improvements across California's public higher education segments, including community colleges, CSU, and UC campuses. Eligible projects include construction and renovation of academic buildings, student housing developments, safety upgrades, seismic retrofitting, and deferred maintenance. The measure caps administrative costs at 5% and mandates independent performance audits of funded projects.

To ensure public oversight, institutions must conduct public hearings before requesting bond funds for specific projects. They must also maintain detailed project information on their websites, including locations, costs, and completion timelines. The Higher Education Facilities Finance Committee would oversee bond issuance, with debt service structured to avoid impacting existing education funding streams. The measure requires voter approval at an upcoming statewide election to take effect.