AB 53: Educational Revenue Augmentation Fund (2003)
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AB 53 would have provided a long-term plan for returning local property tax revenues to California cities and counties by capping the amount of property tax revenues that are diverted by the State through the Educational Revenue Augmentation Fund (ERAF) program. It would have returned local money to local communities to support local programs reflecting local needs.
Final Status and Text
AB 53 is no longer active. Its final status was:Did not pass the Legislature
You can read its final text on the Legislature's Bill Information site.