Cal. Code Regs. Tit. 2, § 1859.154 - Fund Distribution

(a) From the funding made available from Education Code Section 100620(a)(5), the Board shall transfer the amount determined in (3) below, to the SFP New Construction Account after the Preliminary Apportionment(s) are approved by the Board:

(1) Determine the total value of the Preliminary Applications received pursuant to Section 1859.141(a).

(2) Multiply the amount determined in (1) by 15 percent.

(3) Subtract the sum of the amounts determined in (1) and (2) from $1.7 billion. If negative number, the amount is zero.

(b) From the funding made available from Education Code Section 100820(a)(3), the Board shall transfer the amount determined in (3) below, to the SFP New Construction Account after the Preliminary Apportionment(s) are approved by the Board:

(1) Determine the total value of the Preliminary Applications received pursuant to Section 1859.141(b).

(2) Multiply the amount determined in (1) by 15 percent.

(3) Subtract the sum of the amounts determined in (1) and (2) from $2.44 billion. If negative number, the amount is zero.

(c) Any funds remaining in the 2002 (or 2004, as appropriate) Critically Overcrowded School Facilities Account not needed for purposes of converting projects to a Final Apportionment shall be transferred to the SFP New Construction Account.

Notes

Cal. Code Regs. Tit. 2, § 1859.154

1. New section filed 11-4-2002 as an emergency; operative 11-4-2002 (Register 2002, No. 45). Pursuant to Education Code section 17070.35 a Certificate of Compliance must be transmitted to OAL by 11-4-2003 or emergency language will be repealed by operation of law on the following day.
2. Certificate of Compliance as to 11-4-2002 order transmitted to OAL 11-4-2003 and filed 12-19-2003 (Register 2003, No. 51).

Note: Authority cited: Sections 17070.35 and 17075.15, Education Code. Reference: Sections 17072.27, 17078.30, 100620 and 100820, Education Code.

1. New section filed 11-4-2002 as an emergency; operative 11-4-2002 (Register 2002, No. 45). Pursuant to Education Code section 17070.35 a Certificate of Compliance must be transmitted to OAL by 11-4-2003 or emergency language will be repealed by operation of law on the following day.
2. Certificate of Compliance as to 11-4-2002 order transmitted to OAL 11-4-2003 and filed 12-19-2003 (Register 2003, No. 51).