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HomeEducation CodeCh. 4Art. 1§ 15735 School Loan Repayment Deductions

§ 15735 School Loan Repayment Deductions

Education Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 15735 School Loan Repayment Deductions

This rule tells the state Controller to spread each school district's yearly repayment over four months (Feb‑May) and send that money to a special building loan fund, which can later be moved only to the general school fund.

Key Takeaways

  • •The Controller spreads the annual repayment into four equal parts (Feb‑May).
  • •The deducted money is transferred to the Public School Building Loan Fund.
  • •That money can only be moved to the General Fund later, under Section 15903.
  • •The process happens in the fiscal year after the repayment amount is set.

Example

A school district is told it must repay $100,000 for the year. The Controller will take $25,000 from the district's February payment, $25,000 from March, $25,000 from April, and $25,000 from May, and send the total $100,000 to the Public School Building Loan Fund.

The district still gets its regular money, but a piece of each month's payment is taken out and put into the building loan fund, and that money can only go to the general school fund later.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 15735 School Loan Repayment Deductions

The Controller shall, during the next fiscal year following that in which he or she determines the annual repayment as herein provided, deduct the total amount of the annual repayment of each district in equal amounts from each of the February, March, April, and May installments of the apportionments made to the district from the State School Fund under Sections 46304, 46305, and 92 or 41050, Sections 41330 to 41343, inclusive, and Sections 41600 to 41972, inclusive, and, on order of the Controller, the amount so deducted shall be transferred to the Public School Building Loan Fund. All money transferred to the Public School Building Loan Fund under this section shall be available only for transfer to the General Fund under Section 15903. (Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)

Last verified: January 10, 2026

Key Terms

Controllerannual repaymentState School FundPublic School Building Loan FundGeneral Fund

Related Statutes

  • § 15748 School Fund Transfer Authority
  • § 16721 Deduction School Apportionment Repayment
  • § 15741 State School Fund Deductions
  • § 15742 County Tax For Withheld School Funds
  • § 15744 School Funding Certification Deadlines

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Education Code. Section 15735.
View Official Source