Education finance: Education Equalization Act: Equalization Reserve Account.

Legislative status

1. Introduced
2. In Committee
3. Reported by Committee
4. Floor Vote Scheduled
5. Passed One Chamber
6. Passed Both Chambers
7. Sent to Executive
8. Signed into Law

Summary

The measure adds an Equalization Reserve Account to the state General Fund and requires the Controller to fund it when the state's minimum school‑funding obligation rises. Only the interest earned can be spent, and at least 80% of that interest must go to increase per‑pupil funding for non‑basic‑aid districts. It also lets the Legislature pause the transfers if those districts already receive as much per‑pupil funding as basic‑aid districts.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Vote

Read. Adopted. (Ayes 27. Noes 9. Page 5325.) Ordered to the Assembly. · Aug 10, 2026

Hearings

• Appropriations Committee Hearing
  Appropriations · Jun 15, 2026
• Elections and Constitutional Amendments Committee Hearing
  Elections and Constitutional Amendments · Jun 9, 2026
• Education Committee Hearing
  Education · Jun 3, 2026

History

1. Jun 4, 2026From committee: Be adopted and re-refer to Com. on E. & C.A. (Ayes 6. Noes 0.) (June 3). Re-referred to Com. on E. & C.A.
2. May 29, 2026Set for hearing June 9 in E. & C.A. pending receipt.
3. May 26, 2026From committee with author's amendments. Read second time and amended. Re-referred to Com. on ED.
4. May 21, 2026Set for hearing June 3.
5. May 20, 2026Referred to Coms. on ED. and E. & C.A.
6. May 7, 2026Introduced. Read first time. To Com. on RLS. for assignment. To print.

Sponsors

• Dave Cortese (D) · sponsor
• Cortese

Bill text

Opens the legislature’s own copy.

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