May 2024

Proposition 98 Overview

Proposition 98 Funding Changes by Segment and Source

In Millions

  Governor's Budget May Revision Change
2022-23 Revised $98,306 $97,527 -$779
K-12 Education      
General Funda $60,591 $59,949 -$641
Local property tax 25,882 25,890 7
   Subtotals $86,473 $85,839 -$634
California Community Colleges      
General Fund $7,634 $7,532 -$102
Local property tax 3,860 3,884 24
   Subtotals $11,494 $11,416 -$78
Proposition 98 Reserveb $339 $272 -$67
       
2023-24 Revised $105,586 $102,572 -$3,015
K-12 Education      
General Funda $68,959 $68,940 -$20
Local property tax 26,917 26,997 79
   Subtotals $95,877 $95,936 $59
California Community Colleges      
General Fund $8,425 $8,384 -$41
Local property tax 4,036 4,075 39
   Subtotals $12,460 $12,459 -$1
Proposition 98 Reserveb -$2,751 -$5,823 -$3,073
       
2024-25 Revised $109,080 $109,129 $50
K-12 Education      
General Funda $70,093 $70,478 $386
Local property tax 27,975 28,239 264
   Subtotals $98,068 $98,717 $650
California Community Colleges      
General Fund $8,679 $8,717 $38
Local property tax 4,210 4,285 74
   Subtotals $12,890 $13,002 $112
Proposition 98 Reserveb -$1,878 -$2,590 -$712
       
a Includes the portion of State Preschool funded through Proposition 98 and direct instructional services provided by state agencies.
b Reflects the size of the deposit (+) or withdrawal (-) from the Proposition 98 Reserve established by Proposition 2 (2014). Accounts for mandatory and discretionary actions affecting reserve levels. Amounts consist entirely of General Fund.