CA AB2689

Amends Education Code Section 42127.01 to modify restrictions on school district fund balances in fiscal years following a transfer to the Public School System Stabilization Account.

Changes the maximum combined assigned or unassigned ending fund balance from a fixed multiple (2x for districts under 400,000 ADA units; 3x for larger districts) to an unspecified multiple of the minimum recommended reserve for economic uncertainties.

Maintains county superintendent authority to grant exemptions for up to 2 consecutive fiscal years within a 3-year period if school districts document extraordinary fiscal circumstances such as infrastructure or technology projects.

Repeals an obsolete provision in Section 42610 regarding appropriation procedures for general reserve amounts exceeding budgeted amounts.