Vote Smart's Synopsis:

Vote to concur with House amendments and pass a bill that shifts certain redevelopment agency funds to school districts connected to redevelopment districts and reduces appropriations made by the Superintendent of Public Instruction to those school districts.

Highlights:

-Requires that redevelopment agencies shall remit their required amounts, as determined by the Director of Finance, to their county auditor for deposit in the county Educational Revenue Augmentation Fund on or before June 30, 2009 (Sec. 2). -Mandates that funds distributed through county Educational Revenue Augmentation Funds to K-12 school districts are only distributed to those serving the redevelopment districts from which the funds were originally remitted (Sec. 2). -Reduces, for the 2009 fiscal year, the amount allocated by the Superintendent of Public Instruction to school districts receiving funds from the Educational Revenue Augmentation Fund by an amount equal to those funds (Sec. 2). -Makes the necessary statutory changes to bring this act in agreement with Section 8 of Article XVI of the California Constitution (Sec. 2). -Takes effect immediately upon passage due to the current fiscal emergency (Sec. 4).

Full Bill Text