CA AB1624

Authorizes the Controller, Treasurer, and Director of Finance to defer specific General Fund payments to address a short-term cash shortage until external borrowing of $3.2 billion or more is secured for the 2010-11 fiscal year.

Defers kindergarten through grade 12 October 2010 apportionments until November 15, 2010, and categorical payments up to $300 million from July-October 2010 until November 4, 2010, unless external borrowing is secured.

Defers California Community Colleges October 2010 apportionments until November 4, 2010 and Cal Grant payments to UC until December 10, 2010 and to CSU until December 3, 2010.

Prohibits deferral of state payroll, debt service, reimbursements for property tax reductions, payments to small vendors, and other specified obligations.

Amends Education Code Section 22954 to delay Teachers' Retirement Fund Supplemental Benefit Maintenance Account transfers from October 15, 2010 to November 15, 2010 and from April 15, 2011 to March 14, 2011 for the 2010-11 fiscal year only; expires January 1, 2011.