Section 15737 Of Article 1. General Provisions From California Education Code >> Division 1. >> Title 1. >> Part 10. >> Chapter 4. >> Article 1.
15737
. (a) Upon request of the district, the Controller shall use
in computing the "40-cent, 30-cent, and 10-cent tax amounts" under
Section 15732 the difference between the total assessed valuation of
property in a district as shown on the equalized assessment roll for
the current fiscal year and the assessed valuation of property as
shown on the equalized assessment roll for the current fiscal year,
in excess of 2 percent of the total assessed valuation, with respect
to which revenues of the district taxes levied in the 1954-1955
fiscal year, or thereafter, have been impounded by the county auditor
pursuant to Section 14240. Beginning with the 1981-82 fiscal year,
the amount in excess of 0.5 percent of the total assessed valuation
shall be used in the computation. If the request is received prior to
August 1, 1955, with respect to the impounding of revenues of taxes
levied during the 1954-1955 fiscal year, the Controller shall
recompute the annual repayment of the district due during the
1955-1956 fiscal year on the basis of the reduced assessed valuation,
and, on or before September 1, 1955, notify the officers and board
referred to in Section 15741 of the recomputed annual repayment for
the 1955-1956 fiscal year, and of the recomputed amount to be
deducted from the State School Fund apportionment to the district
during the 1955-1956 fiscal year.
(b) Whenever, after July 1, 1955, the county auditor notifies the
Superintendent of Public Instruction and the Controller of the
release of impounded tax revenues to the school district, the
Controller shall add to the annual repayment of the district, for the
first fiscal year or second fiscal year next succeeding that in
which the notification of release was made, that amount by which the
annual repayment of the district for a previous fiscal year was
reduced by reason of the exclusion of assessed valuation with respect
to tax revenues impounded and thereafter released.
(c) The amount of annual repayment and deduction, increased or
reduced as required by this section, shall be the amount deducted by
the Controller for the purposes of Sections 15735, 15741, and 15742
for the fiscal year in which the increase or reduction occurs.
(d) If a request is received from a school district and an annual
repayment reduced pursuant to subdivision (a), Section 15736 shall
not apply with respect to any tax revenues to which subdivision (a)
applies.