SECTIONS 41960-41964 - California Statutes

EDUCATION CODE

SECTION 41960-41964

41960. Whenever real property within a school district is acquired
for state highway purposes, the Superintendent of Public Instruction
shall allow to the school district an amount of severance aid as
provided in this section, in addition to any other allowances
provided by this chapter. For the five years following the
acquisition of such property the Superintendent of Public Instruction
shall allow to the school district severance aid based on the amount
of tax revenues the school district would have received from such
property if there had been no such acquisition, computed as follows:
for the year following such acquisition, the district shall be
allowed the amount of tax revenues, except revenues for bond interest
and redemption, which would have been paid during the year of
acquisition if the taxes assessed on the property acquired were then
paid in full; for the second year the district shall be allowed 80
percent of such amount; for the third year the district shall be
allowed 60 percent of such amount; for the fourth year the district
shall be allowed 40 percent of such amount; and for the fifth year
the district shall be allowed 20 percent of such amount.

41962. School districts may apply for severance aid as provided in
this article on forms provided by the Superintendent of Public
Instruction, and in accordance with regulations which he is
authorized to adopt.

41963. No allowance of severance aid shall be made as provided in
Section 41960 unless the total assessed value of taxable real
property within the school district is reduced by one-half of one
(0.5) percent or more during a fiscal year by reason of acquisitions
giving rise to severance aid as provided in Section 41960. In
determining whether or not the value of the acquisitions is equal to
one-half of one (0.5) percent or more of the value of taxable real
property, all of these acquisitions made during each fiscal year
shall be considered as one sum.

41964. On or before each May 25th, the Superintendent of Public
Instruction shall determine and certify to the Controller the amount
of severance aid computed and to be allowed to school districts under
Section 41960 for the fiscal year. On or before each June 15th, the
Controller shall order the transfer, from the Motor Vehicle
Transportation Tax Account in the Transportation Tax Fund to the
State School Fund, of the amount of severance aid computed and to be
allowed to school districts for the fiscal year as so certified, and
the amount so computed and certified is hereby appropriated for
purposes of the transfer. The Department of Transportation may charge
or allocate to the appropriate particular projects on account of
which severance aid was computed, the amounts so transferred.