2004 California Proposition 61
Proposition 61 is a proposition in the state of California on the November 2, 2004 ballot. It is an initiative statute authorizes the sale of $750,000,000 in bonds to provide funding for children's hospitals. It is officially known as the Children's Hospital Bond Act of 2004.
See also: List of California ballot propositions 2000-present
Official summary
- Authorizes $750,000,000 in general obligation bonds, to be repaid from state's General Fund, for grants to eligible children's hospitals for construction, expansion, remodeling, renovation, furnishing and equipping children's hospitals.
- 20% of bonds are for grants to specified University of California general acute care hospitals; 80% of bonds are for grants to general acute care hospitals that focus on children with illnesses such as leukemia, heart defects, sickle cell anemia and cystic fibrosis, provide comprehensive services to a high volume of children eligible for government programs, and that meet other stated requirements.
Summary of Legislative Analyst's Estimate of Net State and Local Government Fiscal Impact:
- State cost of about $1.5 billion over 30 years to pay off both the principal ($750 million) and the interest ($756 million) costs of the bonds. Payments of about $50 million per year.