Education Code - EDC - EDC § 42251

Summary

(a) The Superintendent shall make the following calculations for the 2011–12 fiscal year: (1) Determine the amount of funds that will be restricted after the Superintendent makes the deduction pursuant to Section 52335.3 for each county office of education pursuant to subdivision

Text

(a)
The Superintendent shall make the following calculations for the 2011–12 fiscal year:
(1)
Determine the amount of funds that will be restricted after the Superintendent makes the deduction pursuant to Section 52335.3 for each county office of education pursuant to subdivision (e) of Section 2558 as of June 30, 2012.
(2)
Divide fifty million dollars ($50,000,000) by the statewide sum of the amounts determined pursuant to paragraph (1). If the fraction is greater than one it shall be deemed to be one.
(3)
Multiply the fraction determined pursuant to paragraph (2) by the amount determined pursuant to paragraph (1) for each county office
of education.
(b)
The auditor-controller of each county shall distribute the amounts determined in paragraph (3) of subdivision (a) to the Supplemental Revenue Augmentation Fund created within the county pursuant to Section 100.06 of the Revenue and Taxation Code. The aggregate amount of transfers required by this subdivision shall be made in two equal shares, with the first share being transferred no later than January 15, 2012, and the second share being transferred after that date but no later than May 1, 2012.
(c)
The moneys transferred to the Supplemental Revenue Augmentation Fund in the 2011–12 fiscal year shall be transferred by the county office of education to the Controller, in amounts and for those purposes as directed by the Director of Finance, exclusively to reimburse the state for the costs of providing trial court services and costs until those moneys are
exhausted.

Retrieval chunks

• #1 | Education Code - EDC - EDC § 42251

  (a) The Superintendent shall make the following calculations for the 2011–12 fiscal year: (1) Determine the amount of funds that will be restricted after the Superintendent makes the deduction pursuant to Section 52335.3 for each county office of education pursuant to subdivision (e) of Section 2558 as of June 30, …