Thanks to California voters for passing Prop 39 in November, a total of $550 million in funding will be provided annually for schools to receive clean energy upgrades.SACRAMENTO, Calif. — California voters passed Proposition 39 back in November and now the new law is set to go in effect at the beginning of 2013, which will bring in up to $550 million annually for efficiency and clean energy school construction projects.

Thanks to California voters for passing Prop 39 in November, a total of $550 million in funding will be provided annually for schools to receive clean energy upgrades.SACRAMENTO, Calif. — California voters passed Proposition 39 back in November and now the new law is set to go in effect at the beginning of 2013, which will bring in up to $550 million annually for efficiency and clean energy school construction projects.

The measure closes a corporate tax loophole for out-of-state businesses and gives money to school districts inneed of renovation and retrofits, as well as technology and energy-efficient upgrades.

“(Prop 39) will drive more businesses towards retrofitting existing structures,” said Nicole Biggard, a professor at UC Davis’ Energy Efficiency Center in a statement. “I think the revenue coming in will be a big boost for our businesses. It will really increase the market of the construction industry. It will also grow the workforce as well.”

Most of the Prop 39 school money will be directed towards upgrading school facilities and not new construction, although the California General Assembly is still in the process of developing a plan for the allocation of funds.