§ 100760 Bond Proceeds Tax Exemption

Education Code·California

AI SummaryVerified

This law says that money raised by selling bonds under this chapter is not counted as tax money, so the usual limits on how tax money can be spent don't apply to it.

Key Takeaways

•Bond money is not treated as tax money.
•Spending bond money isn't limited by the tax‑spending rules in Article XIII B.
•The rule only applies to bonds that this chapter specifically allows.

Example

A city wants to build a new community center and decides to raise money by selling bonds approved under this chapter.

Because the money comes from bonds, not from taxes, the city can spend it on the center even if the state's tax‑spending limits would normally stop them.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 100760 Bond Proceeds Tax Exemption

The Legislature hereby finds and declares that, inasmuch as the proceeds from the sale of bonds authorized by this chapter are not “proceeds of taxes” as that term is used in Article XIII B of the California Constitution, the disbursement of these proceeds is not subject to the limitations imposed by that article. (Added by Stats. 2002, Ch. 33, Sec. 30. Approved in Proposition 47 at the November 5, 2002, election.)

Last verified: January 10, 2026

Key Terms

proceeds of taxes Article XIII B California Constitution Proposition 47

References

Official text at leginfo.legislature.ca.gov
California Legislature. Education Code. Section 100760.

Key Takeaways

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Key Takeaways

Example

Key Terms

Related Statutes

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