SEC. 2.
(a) At a minimum, the sum of two billion three hundred fifty million dollars ($2,350,000,000) is hereby appropriated from the General Fund to the Controller as specified in the following schedule:(1) 2000-01 fiscal year
........................
| $460,000,000 |
(2) 2001-02 fiscal year
........................
| $465,000,000 |
(3) 2002-03 fiscal year
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| $470,000,000 |
(4) 2003-04 fiscal year
........................
| $475,000,000 |
(5) 2004-05 fiscal year
........................
| $480,000,000 |
(b) The appropriations scheduled in subdivision (a) shall be divided equally in amounts for allocation to school districts to fund both equalization adjustments computed for each school district for each of the respective fiscal years and the amount computed by the Superintendent of Public Instruction for the purpose of reducing the deficit factors applied to the revenue limits of county superintendents of schools and school districts pursuant to Sections 2558.45 and 42238.145 respectively.
(c) The Controller shall allocate the amounts set forth in subdivision (a) to the State Department of Education for allocation to school districts, subject to the conditions of subdivision (d).
(d) (1) On or before June 30, 2002, the Superintendent of Public Instruction shall report to the Director of Finance and the Controller on the overall performance of state public schools based on the Academic Performance Index described in Section 52052. If the Superintendent of Public Instruction reports that overall improvement exceeds 5 percent, the Controller shall allocate to the State Department of Education the amount described in paragraph (3) of subdivision (a). If the Superintendent of Public Instruction reports that overall improvement does not exceed 5 percent, the Controller shall not allocate the amounts described in paragraphs (3), (4), and (5), until the Superintendent of Public Instruction reports that overall improvement exceeds 5 percent.
(2) On or before June 30, 2004, the Superintendent of Public Instruction shall report to the Director of Finance and the Controller on the overall performance of state public schools based on the Academic Performance Index described in Section 52052. If the Superintendent of Public Instruction reports that overall improvement exceeds 5 percent, the Controller shall allocate to the State Department of Education the amount described in paragraph (5) of subdivision (a). If the Superintendent of Public Instruction reports that overall improvement does not exceed 5 percent, the Controller shall not allocate the amounts described in paragraph (5) until the Superintendent of Public Instruction reports that overall improvement exceeds 5 percent.
(e) It is the intent of the Legislature that any funding pursuant to this section be in addition to the minimum funding guarantees of Proposition 98.