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    SB-743
    Education

    Education finance: Education Equalization Act: Equalization Reserve Account.

    Engrossed
    CA
    ∙
    2025-2026 Regular Session
    0
    0
    Track
    Track

    Key Takeaways

    • Establishes a new state fund to reduce funding gaps between California school districts.
    • Requires automatic transfers to the fund when state education funding increases.
    • Mandates legislative allocation of funds to increase per-pupil spending in qualifying districts.
    • Takes effect only if voters approve a related constitutional amendment.

    Summary

    Senator Cortese's education finance proposal would establish an Equalization Reserve Account in California's General Fund to provide supplemental funding for non-basic aid school districts, which rely on state funding rather than local property tax revenues to meet their base educational needs.

    The account would receive automatic transfers from the General Fund in years when the state's constitutionally-required education funding increases. The transfer amount would match funds moved to the Public School System Stabilization Account that year. Non-basic aid districts, defined as those receiving state funding apportionments in any of the previous three fiscal years, would be eligible for additional per-pupil funding from the account through legislative appropriation.

    The measure's implementation depends on voter approval of a constitutional amendment that would exclude these funds from state appropriations limits and minimum education funding calculations. The amendment must also require the Legislature to allocate a percentage of the account's funds each year to increase per-pupil funding in eligible districts. Any interest earned on money in the account would be retained for the same purpose.

    Key Dates

    Next Step
    Referred to the Assembly Standing Committee on Education
    Next Step
    Assembly Committee
    Referred to the Assembly Standing Committee on Education
    Hearing scheduled for , 1021 O Street, Room 1100
    Vote on Senate Floor
    Senate Floor
    Vote on Senate Floor
    Senate 3rd Reading SB743 Cortese
    Senate Appropriations Hearing
    Senate Committee
    Senate Appropriations Hearing
    Do pass
    Senate Appropriations Hearing
    Senate Committee
    Senate Appropriations Hearing
    Placed on suspense file
    Senate Education Hearing
    Senate Committee
    Senate Education Hearing
    Do pass, but first be re-referred to the Committee on [Appropriations]
    Introduced
    Senate Floor
    Introduced
    Introduced. To Com. on RLS. for assignment. To print.

    Contacts

    Profile
    Al MuratsuchiD
    Assemblymember
    Committee Member
    Not Contacted
    Not Contacted
    Profile
    Dave CorteseD
    Senator
    Bill Author
    Not Contacted
    Not Contacted
    Profile
    Mia BontaD
    Assemblymember
    Committee Member
    Not Contacted
    Not Contacted
    Profile
    David AlvarezD
    Assemblymember
    Committee Member
    Not Contacted
    Not Contacted
    Profile
    Dawn AddisD
    Assemblymember
    Committee Member
    Not Contacted
    Not Contacted
    0 of 10 row(s) selected.
    Page 1 of 2
    Select All Legislators
    Profile
    Al MuratsuchiD
    Assemblymember
    Committee Member
    Profile
    Dave CorteseD
    Senator
    Bill Author
    Profile
    Mia BontaD
    Assemblymember
    Committee Member
    Profile
    David AlvarezD
    Assemblymember
    Committee Member
    Profile
    Dawn AddisD
    Assemblymember
    Committee Member
    Profile
    Josh HooverR
    Assemblymember
    Committee Member
    Profile
    Josh LowenthalD
    Assemblymember
    Committee Member
    Profile
    Leticia CastilloR
    Assemblymember
    Committee Member
    Profile
    Robert GarciaD
    Assemblymember
    Committee Member
    Profile
    Darshana PatelD
    Assemblymember
    Committee Member

    Get Involved

    Act Now!

    Email the authors or create an email template to send to all relevant legislators.

    Introduced By

    Dave Cortese
    Dave CorteseD
    California State Senator
    40% progression
    Bill has passed all readings in its first house and is ready to move to the other house (6/3/2025)

    Latest Voting History

    View History
    June 3, 2025
    PASS
    Senate Floor
    Vote on Senate Floor
    AyesNoesNVRTotalResult
    302840PASS

    Key Takeaways

    • Establishes a new state fund to reduce funding gaps between California school districts.
    • Requires automatic transfers to the fund when state education funding increases.
    • Mandates legislative allocation of funds to increase per-pupil spending in qualifying districts.
    • Takes effect only if voters approve a related constitutional amendment.

    Get Involved

    Act Now!

    Email the authors or create an email template to send to all relevant legislators.

    Introduced By

    Dave Cortese
    Dave CorteseD
    California State Senator

    Summary

    Senator Cortese's education finance proposal would establish an Equalization Reserve Account in California's General Fund to provide supplemental funding for non-basic aid school districts, which rely on state funding rather than local property tax revenues to meet their base educational needs.

    The account would receive automatic transfers from the General Fund in years when the state's constitutionally-required education funding increases. The transfer amount would match funds moved to the Public School System Stabilization Account that year. Non-basic aid districts, defined as those receiving state funding apportionments in any of the previous three fiscal years, would be eligible for additional per-pupil funding from the account through legislative appropriation.

    The measure's implementation depends on voter approval of a constitutional amendment that would exclude these funds from state appropriations limits and minimum education funding calculations. The amendment must also require the Legislature to allocate a percentage of the account's funds each year to increase per-pupil funding in eligible districts. Any interest earned on money in the account would be retained for the same purpose.

    40% progression
    Bill has passed all readings in its first house and is ready to move to the other house (6/3/2025)

    Key Dates

    Next Step
    Referred to the Assembly Standing Committee on Education
    Next Step
    Assembly Committee
    Referred to the Assembly Standing Committee on Education
    Hearing scheduled for , 1021 O Street, Room 1100
    Vote on Senate Floor
    Senate Floor
    Vote on Senate Floor
    Senate 3rd Reading SB743 Cortese
    Senate Appropriations Hearing
    Senate Committee
    Senate Appropriations Hearing
    Do pass
    Senate Appropriations Hearing
    Senate Committee
    Senate Appropriations Hearing
    Placed on suspense file
    Senate Education Hearing
    Senate Committee
    Senate Education Hearing
    Do pass, but first be re-referred to the Committee on [Appropriations]
    Introduced
    Senate Floor
    Introduced
    Introduced. To Com. on RLS. for assignment. To print.

    Latest Voting History

    View History
    June 3, 2025
    PASS
    Senate Floor
    Vote on Senate Floor
    AyesNoesNVRTotalResult
    302840PASS

    Contacts

    Profile
    Al MuratsuchiD
    Assemblymember
    Committee Member
    Not Contacted
    Not Contacted
    Profile
    Dave CorteseD
    Senator
    Bill Author
    Not Contacted
    Not Contacted
    Profile
    Mia BontaD
    Assemblymember
    Committee Member
    Not Contacted
    Not Contacted
    Profile
    David AlvarezD
    Assemblymember
    Committee Member
    Not Contacted
    Not Contacted
    Profile
    Dawn AddisD
    Assemblymember
    Committee Member
    Not Contacted
    Not Contacted
    0 of 10 row(s) selected.
    Page 1 of 2
    Select All Legislators
    Profile
    Al MuratsuchiD
    Assemblymember
    Committee Member
    Profile
    Dave CorteseD
    Senator
    Bill Author
    Profile
    Mia BontaD
    Assemblymember
    Committee Member
    Profile
    David AlvarezD
    Assemblymember
    Committee Member
    Profile
    Dawn AddisD
    Assemblymember
    Committee Member
    Profile
    Josh HooverR
    Assemblymember
    Committee Member
    Profile
    Josh LowenthalD
    Assemblymember
    Committee Member
    Profile
    Leticia CastilloR
    Assemblymember
    Committee Member
    Profile
    Robert GarciaD
    Assemblymember
    Committee Member
    Profile
    Darshana PatelD
    Assemblymember
    Committee Member