CA AB1898

Amends Section 41329.52 of the Education Code to create an alternative financing option for school district emergency apportionments under $25,000,000 (adjusted annually by inflation).

Beginning January 1, 2013, allows financing of emergency apportionments through the Pooled Money Investment Account instead of requiring lease financing with the California Infrastructure and Economic Development Bank.

Sets the interest rate for Pooled Money Investment Account financing at the rate earned by those funds as of the initial disbursement date, or the bank's lower rate if applicable.

Maintains existing lease financing requirements for emergency apportionments exceeding $25,000,000, with a maximum 20-year term (extendable up to 10 additional years if rent remains unpaid).

Allows flexibility between the two financing methods based on interest rates, with school districts selecting the option that results in lower borrowing costs.