Eliminates All Existing School Payment Deferrals. Beginning in 2015 16, the measure requires the state to use the 5 5 9 schedule for making monthly General Fund payments to schools, thereby eliminating all existing payment deferrals. Moving forward, school payments could be delayed by no more than 30 days and could not extend across the fiscal year. The measure allows the state to implement longer school payment deferrals only through a voter-approved initiative or legislation that receives three-fourths approval from both houses of the Legislature.