CA SB847

Appropriates $1,201,534,585 from the Federal Trust Fund to the Office of Planning and Research for the 2010-11 fiscal year upon receipt of federal Education Jobs and Medicaid Assistance Act funding.

Transfers $1,201,406,585 to the State Department of Education for implementation of the federal act, with $1,199,906,585 allocated to local educational agencies based on school district revenue limits, county office of education revenue limits, and charter school operational funding.

Requires preliminary allocation of 90 percent of estimated final allocation to be distributed within 14 days of the act's effective date or federal funding notification, whichever is later.

Allocates $1,500,000 to the State Department of Education for administrative purposes and $128,000 to the Office of Planning and Research for oversight of distributed funds.

Restricts fund usage to employee compensation, benefits, and related expenses necessary to retain, recall, rehire, or hire school-level educational personnel, with unused funds usable through September 30, 2012.