CA AB1191

Requires county auditors to submit claims to the State Controller for insufficient property tax revenues needed to fund sales and use tax compensation payments to counties and cities, starting in fiscal year 2012-13.

Allows the Controller to deposit claimed amounts into the Sales and Use Tax Compensation Fund upon legislative appropriation, with auditors then distributing funds to affected counties and cities within 30 days.

Requires county auditors to allocate available ad valorem property tax revenues from non-required school district allocations to the Vehicle License Fee Property Tax Compensation Fund when insufficient revenues exist for vehicle license fee adjustment payments, beginning in fiscal year 2012-13.

Permits county auditors to submit claims to the Controller for remaining vehicle license fee adjustment amounts after exhausting available property tax revenues, with the Controller depositing appropriated funds into the Vehicle License Fee Property Tax Compensation Fund.

Designates the act as an urgency statute effective immediately to provide financial relief to local entities in counties where all school districts have become basic aid districts, particularly Amador and Mono counties.