SEC. 4.5.
(a) The imposition, extension, or increase of a parcel tax on real property by a school district, as may otherwise be authorized by law, is subject to approval by 55 percent of the voters of that district voting on the proposition, if all of the following conditions are met:(1) The proposition is approved by a majority vote of the membership of the governing board of the school district.
(2) The proposition contains all of the following accountability requirements:
(A) A list of the specific purposes and programs that are to be funded.
(B) A
requirement that the proceeds be used only for the purposes and programs specified in the proposition, and not for any other purpose.
(C) To ensure compliance with subparagraph (B), a requirement that the governing board of the school district conduct an annual independent financial audit of the amount of parcel tax proceeds collected and expended, and the specified purposes and programs funded.
(D) To ensure compliance with subparagraph (B), a requirement that the governing board of the school district establish a citizens’ oversight committee to review all expenditures of proceeds and financial audits and report its findings to the governing board and to the public.
(3) The proposition allows for an exemption from tax, to be claimed under procedures established by the county, for any parcel that, as of January 1 of
each year, is owned by and upon which is located the principal residence of, either a person or persons 65 years of age or older, or, without regard to age, a person or persons receiving Supplemental Security Income for a disability.
(b) For purposes of this section, “parcel tax” means a special tax imposed upon a parcel of real property at a rate that is determined without regard to that property’s value.