California Law (Last Updated: March 4, 2014) |
Education Code - EDC |
Title 2. ELEMENTARY AND SECONDARY EDUCATION |
Division 3. LOCAL ADMINISTRATION |
Part 24. SCHOOL FINANCE |
Chapter 8. Supplemental School Revenues |
Section 42401.
Latest version.
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(a) Revenues from any transactions and use tax imposed pursuant to Chapter 3.5 (commencing with Section 7288.1) of Part 1.7 of Division 2 of the Revenue and Taxation Code shall not be considered "allocated local proceeds of taxes" pursuant to Section 41202 of the Education Code or paragraph (2) of subdivision (b) of Section 8 of Article XVI of the California Constitution.
(b) Revenues derived from any transactions and use tax imposed pursuant to Chapter 3.5 (commencing with Section 7288.1) of Part 1.7 of Division 2 of the Revenue and Taxation Code shall supplement, and shall not be offset against, the allocations made pursuant to Section 2558 or 42238 of the Education Code.
(Added by Stats. 1991, 1st Ex. Sess., Ch. 14, Sec. 1. Effective March 7, 1993.)