Section 53738.5 - [See Note] Useful life requirement for projects funded with ACA 1 bonded indebtedness(a) Except as provided in subdivision (b), a local government shall ensure that any project that is funded with ACA 1 bonded indebtedness has an estimated useful life of at least 15 years.(b) Notwithstanding subdivision (a), expenditures made pursuant to subclause (IV) of clause (iv) of subparagraph (E) of paragraph (4) of subdivision (b) of Section 1 of Article XIII A of the California Constitution shall have an estimated use of life of at least five years.Added by Stats 2024 ch 155 (AB 2813),s 1, eff. 7/18/2024operative only if Assembly Constitutional Amendment 1 of the 2023-24 Regular Session is approved by the voters..