Jeffrey Vincent, co-author of a report on school construction financing for Getting Down to Facts II, a PACE and Stanford University research project, told EdSource that the new funding formula for a $15 billion school facilities bond slated for the March 2020 ballot is a “much-needed first step” toward giving low-property wealth districts a fair share of the money, but doesn’t go far enough. State legislators and Gov. Gavin Newsom reached an 11th hour deal that would give small and low-wealth districts a larger share of the funds.