California Statutes
§ 41052. — 41052. (Enacted by Stats. 1976, Ch. 1010.)
California·Code EDC Education Code - EDC·Div. 3.·Title 2. DIVISION 3. LOCAL ADMINISTRATION·Part 24. PART 24. SCHOOL FINANCE·Ch. 1. CHAPTER 1. State Financial Management and Control·Art. 4. ARTICLE 4. Miscellaneous Provisions
Whenever the assessed valuation of a school district is reduced as a result of the operation of Section 992 of the Revenue and Taxation Code, the school district shall receive replacement revenue from the state for the loss of revenue to the district.
A school district shall be eligible for replacement revenue when the assessed valuation exempted as the result of the operation of Section 992 of the Revenue and Taxation Code is 30 percent or more of the district’s assessed valuation in the 1970–1971 fiscal year. A school district shall be ineligible for replacement revenue when its assessed valuation has increased 250 percent or more over the 1970–1971 fiscal year assessed valuation.
Free access — add to your briefcase to read the full text and ask questions with AI
California § 41052. (41052. (Enacted by Stats. 1976, Ch. 1010.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Enacted by Stats. 1976, Ch. 1010.