Proposal to create education equalization reserve fund advances; senators debate mechanics and Prop 98 implications
Sen. Dave Cortese introduced SB 743 to create an Equalization Reserve Account that would invest principal and use earnings to narrow funding gaps between property-tax strong (basic aid) and state-reliant districts.
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Sen. Dave Cortese presented Senate Bill 743, a proposal to create an Equalization Reserve Account (ERA) designed to reduce longstanding funding disparities between California’s “basic aid” (property-tax rich) school districts and nonbasic-aid districts that rely more heavily on state funding.
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