CA AB548

Allows local educational agencies to choose between two funding options for the 2008-09 school year under the Class Size Reduction Program: either funding for the same number of classes applied for as of January 31, 2009, or the funding option that existed on December 31, 2008.

Grants Riverside Unified School District the option to operate each of its grade 3 classrooms in the Class Size Reduction Program under either the January 31, 2009 funding standard or the December 31, 2008 funding option for the 2009-10 school year.

Establishes penalty reductions of 5-30 percent for classes exceeding the 20-pupil maximum under the Class Size Reduction Program for fiscal years 2008-09 through 2011-12, with penalties scaled based on enrollment levels.

Declares the bill an urgency statute that takes effect immediately to prevent financial hardship to participating school districts.

Makes legislative findings that a special statute is necessary for Riverside Unified School District due to its unique fiscal circumstances.