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

Assembly Member Alvarez proposes comprehensive changes to California's education finance system through legislation that would expand bond funding capacity for public higher education facilities and establish new requirements for affordable student housing development. The bill raises community college districts' bond issuance limits from 1.25% to 2% of taxable property value, with aggregate limits increasing to 4% when combined with other authorized bonds.

The legislation creates the College Health and Safety Bond Act of 2026, which would authorize state general obligation bonds to fund construction and modernization of facilities across California's public higher education segments. As conditions for receiving bond funds, the California State University and University of California systems must develop five-year affordable student housing plans for each campus. These plans must detail current housing capacity, costs, institutional aid policies, and specific goals for expanding affordable units.

The bill implements new accountability measures, requiring independent performance audits of bond-funded projects and public hearings before project approvals. Educational institutions must post project information online and maintain detailed financial records. Administrative costs are capped at 5% of bond proceeds, and debt service payments cannot utilize funds allocated under Article XVI of the California Constitution.

For community colleges, the legislation authorizes bonds for campus construction, renovation, and student housing projects, with priority given to affordability and transit access. Similar provisions apply to UC and CSU facilities, allowing bond funding for construction, acquisition, and improvement of campus buildings and housing. The measure would take effect upon voter approval at an upcoming statewide election.