Ballot Measure 68 - How Does It Impact Schools

Statewide primary election: Tuesday, May 18, 2010

Ballot Measure 68, referred to the ballot by the Oregon Legislature, amends the Oregon Constitution to allow school districts to use bond proceeds to buy land and other assets and creates a state matching fund to help finance K-12 capital costs.

Creates state matching funds to help school districts finance capital improvements

Ballot Measure 68 allows the state to issue general obligation bonds and use the revenue from these bonds to help local districts pay capital cost. Districts with voter-approved K-12 capital bonds could receive state matching funds, lowering local costs for the project. Currently, the state can issue general obligation bonds to help finance state university and community college capital costs. Measure 68 would add K-12 to that authority. It prohibits repaying the state bonds by raising property taxes.Instead, it would dedicate 15 percent of state lottery revenue to the school capital matching fund to repay state funds provided to districts.

Changes the definition of capital improvements so districts can use funds from school bonds for land acquisition, equipment and more.

Measure 68 broadens how districts can use bond proceeds. Districts could use voter-approved bonds to buy land, furniture, equipment and textbooks and help pay costs associated with capital projects such as professional fees.

Please remember to vote by May 18.

Source: Measure 68 ballot titles and explanatory statements, Oregon Voters Guide for May 18, 2010, Primary Election