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. | |||