Notwithstanding any other provision of law, for the 1994-95 fiscal year the county superintendent of schools shall reduce the total revenue limit for each school district in the jurisdiction of the county superintendent of schools by the amount of the decreased employer contributions to the Public Employees' Retirement System resulting from the enactment of Chapter 330 of the Statutes of 1982, adjusted for any changes in those contributions resulting from subsequent changes in employer contribution rates, excluding rate changes due to the direct transfer of the state-mandated portion of the employer contributions to the Public Employees' Retirement System, through the 1994-95 fiscal year. The reduction shall be calculated for each school district as follows:
(a) Determine the amount of employer contributions that would have been made in the 1994-95 fiscal year if the applicable Public Employees' Retirement System employer contribution rate in effect immediately prior to the enactment of Chapter 330 of the Statutes of 1982 were in effect during the 1994-95 fiscal year.
For purposes of this calculation, no school district shall have a contribution rate higher than 13.020 percent.
(b) Subtract from the amount determined in subdivision (a) the actual amount of employer contributions made to the Public Employees' Retirement System in the 1994-95 fiscal year.
(c) For the purposes of this section, employer contributions to the Public Employees' Retirement System for any of the following positions shall be excluded from the calculation specified above:
(1) Positions or portions of positions supported by federal funds that are subject to supplanting restrictions.
(2) Positions supported by funds received pursuant to Section 42243.6.
(3) Positions supported, to the extent of employer contributions not exceeding twenty-five thousand dollars ($25,000) by any single educational agency, from a non-General Fund revenue source determined to be properly excludable from this section by the Superintendent of Public Instruction with the approval of the Director of Finance.
(d) For accounting purposes, the reduction made by this provision may be reflected as an expenditure from appropriate sources of revenue as directed by the Superintendent of Public Instruction.
(e) The amount of the reduction made by this section shall not be adjusted by the deficit factor calculated pursuant to Section 42238.145.
It is the intent of the Legislature to make adjustments to school district revenue limits for the 1994-95 fiscal year to reflect savings that these districts will realize in the contributions to the Public Employees' Retirement System due to a reduced contribution rate for the 1994-95 fiscal year.
(Added by Stats. 1994, Ch. 153, Sec. 6.)
Education Code 42238.145
Education Code 42243.6 (Repealed by Stats. 2001, Ch. 891, Sect. 4.)