May 2023

Proposition 98 Overview

Proposition 98 Funding Changes by Segment and Source

In Millions

  Governor's Budget May
Revision		 Change
2021-22 Revised $110,415 $110,554 $139
K-12 Education      
General Funda $71,130 $70,236 -$894
Local property tax 23,273 23,286 12
   Subtotals $94,403 $93,521 -$882
California Community Colleges      
General Fund $8,790 $8,678 -$111
Local property tax 3,512 3,515 3
   Subtotals $12,301 $12,193 -$108
Proposition 98 Reserveb $3,710 $4,840 $1,129
       
2022-23 Revised $106,991 $106,771 -$220
K-12 Education      
General Funda $69,294 $67,766 -$1,528
Local property tax 24,241 24,950 709
   Subtotals $93,535 $92,716 -$819
California Community Colleges      
General Fund $8,713 $8,554 -$159
Local property tax 3,648 3,706 58
   Subtotals $12,360 $12,260 -$100
Proposition 98 Reserveb $1,096 $1,795 $699
       
2023-24 Proposed $108,816 $106,839 -$1,977
K-12 Education      
General Funda $70,489 $68,206 -$2,283
Local property tax 25,393 25,573 181
   Subtotals $95,881 $93,780 -$2,102
California Community Colleges      
General Fund $8,758 $8,481 -$277
Local property tax 3,811 3,831 20
   Subtotals $12,569 $12,312 -$258
Proposition 98 Reserveb $365 $748 $382
       
a Includes funding for the portion of State Preschool funded through Proposition 98 and direct instructional services provided by state agencies.
b Reflects the size of the deposit (+) or withdrawal (-) from the Proposition 98 Reserve established by Proposition 2 (2014). Amounts consist entirely of General Fund.