SECTION 1.
(a) The Legislature finds and declares that the minimum funding obligation for school districts and community college districts pursuant to subdivision (b) of Section 8 of Article XVI of the California Constitution for the 2023–24 fiscal year exceeds the state’s revenues available for this purpose for the 2023–24 fiscal year.(b) The Legislature hereby invokes subdivision (h) of Section 8 of Article XVI of the California Constitution to suspend the minimum funding obligation for school districts and community college districts for the 2023–24 fiscal year.
(c) In lieu of the constitutional minimum funding obligation, the amount that will be applied by the state for the support of school districts and community college districts for the 2023–24 fiscal year is ninety-eight billion four hundred eighty-four million two hundred forty-nine thousand dollars ($98,484,249,000).
(d) The amount of the maintenance factor created in the 2023–24 fiscal year as a result of this section shall be calculated pursuant to subdivision (d) of Section 8 of Article XVI of the California Constitution and allocated pursuant to subdivision (e) of Section 8 of Article XVI of the California Constitution.