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Measure Details

Children's Hospital Bond Act. Grant Program. Statute.

California Ballot Measure - Proposition 3

Election: General Nov. 4, 2008 (General)
Outcome: Passed

Categories:
Social
Marriage, Family, and Children
Science
Health and Health Care

Summary

* Authorizes $980,000,000 in bonds, to be repaid from state’s General Fund, to fund the construction, expansion, remodeling, renovation, furnishing and equipping of children’s hospitals.
* Designates that 80 percent of bond proceeds go to hospitals that focus on children with illnesses such as leukemia, cancer, heart defects, diabetes, sickle cell anemia and cystic fibrosis.
* Requires that qualifying children’s hospitals provide comprehensive services to a high volume of children eligible for governmental programs and meet other requirements.
* Designates that 20 percent of bond proceeds go to University of California general acute care hospitals.

Summary of Legislative Analyst’s Estimate of Net State and Local Government Fiscal Impact:

* State cost of about $2 billion over 30 years to pay off both the principal ($980 million) and the interest ($933 million) costs of the bonds. Payments of about $64 million per year.

Measure Text

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