January 2020

Proposition 98 Overview

Proposition 98 Key Inputs and Outcomes Under the Governor's Budget

(Dollars in Millions)

  2018-19 2019-20 2020-21
Minimum Guarantee      
General Fund $54,505   $56,405   $57,573  
Local property tax 23,942   25,168   26,475  
   Totals $78,448   $81,573   $84,048  
Change From Prior Year      
General Fund $1,554   $1,899   $1,168  
   Percent change 2.9%   3.5%   2.1%  
Local property tax $1,317   $1,226   $1,307  
   Percent change 5.8%   5.1%   5.2%  
Total guarantee $2,871   $3,126   $2,475  
   Percent change 3.8%   4.0%   3.0%  
Operative Test 1   1   1  
Growth Rates      
K-12 average daily attendance -0.8% -0.1% -0.3%
Per capita personal income (Test 2) 3.7    3.9    4.1   
Per capita General Fund (Test 3)a 6.2    4.0    2.0   
Proposition 98 Reserve      
Deposit (+) or withdrawal (‑) —   $524   -$38  
Cumulative balance —   524   487  
       
a As set forth in the State Constitution, reflects change in per capita General Fund plus 0.5 percent.
Note: No maintenance factor obligation is created, paid, or owed over the period.