2004 California Proposition 61

Proposition 61 was a California ballot proposition on the November 2, 2004 ballot. It passed with 6,629,095 (58.3%) votes in favor and 4,750,309 (41.7%) against. The proposition was the result of an initiative and authorized the sale of $750 million in bonds to provide funding for children's hospitals. It was officially known as the Children's Hospital Bond Act of 2004.

Official summary
Summary of Legislative Analyst's Estimate of Net State and Local Government Fiscal Impact:
 * 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.
 * 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.