The 2026-27 Budget: Proposition 98 Guarantee and K-12 Spending Plan

Feb 4, 2026 - From  an accounting perspective, nearly all of this spending ($8.1  billion) is attributable to the increase in the 2026 ‑27 guarantee. Most of the remaining $1.6  billion relates to 2024 ‑25, reflecting the increase in the guarantee and the settle ‑up payment being made that year.
https://lao.ca.gov/Publications/Report/5110

The 2021-22 Budget: Initial Comments on the Governor’s May Revision

May 17, 2021 - The Governor allocates half of these excess revenues —$8.1  billion —to taxpayer rebates for taxpayers with incomes less than $75,000. The administration does not allocate the remaining half to schools and community colleges in this budget.
https://lao.ca.gov/Publications/Report/4432