If the Superintendent and the Director of Finance jointly determine that, for the 2011-12 fiscal year, the state has applied moneys for the support of school districts and community college districts in an amount that exceeds the minimum amount required for the 2011-12 fiscal year pursuant to § 8 of Article XVI of the California Constitution, the excess, up to six hundred seventy-one million eight hundred thirty thousand dollars ($671,830,000), shall be deemed, as of June 30, 2012, a payment of the fiscal settlement agreed to by the parties in California Teachers Association, et al. v. Arnold Schwarzenegger (Case Number 05CS01165 of the Superior Court for the County of Sacramento) and Chapter 213 of the Statutes of 2004 for the 2004-05 and 2005-06 fiscal years, as determined in subdivision (a) or (b) of Section 41207.1.

(Added by Stats. 2012, Ch. 38, Sec. 45. (SB 1016) Effective June 27, 2012.)

Terms Used In California Education Code 41207.6

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
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