Proposition 30, The Schools and Local Public Safety Protection Act of 2012, approved by the voters on November 6, 2012 temporarily increases the states sales tax rate for all taxpayers and the personal income tax rates for upper-income taxpayers. The new revenues generated from Proposition 30 are deposited into a newly created state account called the Education Protection Account (EPA).
EPA funds are based on the proportionate share of the statewide revenue limit amount. A corresponding reduction is made to the local education agency’s revenue limit equal to the amount of their EPA entitlement. The Revenue Limit is now comprised of three funding sources: State Aid, EPA and Property Taxes. The addition of a new funding source does not increase the amount of the revenue limit due to the District. The state aid portion is decreased accordingly.
Below is an accounting of how much EPA funds were received and how the funds were expended: