Section 47662 Of Article 6. Computations Affecting Sponsoring Local Educational Agencies From California Education Code >> Division 4. >> Title 2. >> Part 26.8. >> Chapter 6. >> Article 6.

. For purposes of Section 42238, the property tax revenues received by a sponsoring local educational agency pursuant to Chapter 3.5 (commencing with Section 75) and Chapter 6 (commencing with Section 95) of Part 0.5 of the Revenue and Taxation Code shall be reduced by the amount of funding in lieu of property taxes allocated to a charter school or schools pursuant to Section 47635.