CA AB1204

Adds pupils experiencing homelessness to the categories of "unduplicated pupils" eligible for supplemental and concentration grant funding under the Local Control Funding Formula (LCFF), alongside English learners, free/reduced-price meal eligible students, and foster youth

Increases the supplemental grant from 20% to 35% of base grants and lowers the concentration grant threshold from 55% to 45% of unduplicated pupil enrollment, effective with the 2030-31 fiscal year

Establishes a minimum 4% annual inflation adjustment for base grants (if the calculated inflation adjustment is lower) and requires the State Department of Education to develop regional cost adjustment factors for housing and labor by January 1, 2030

Creates transition funding adjustments for fiscal years 2025-26 through 2029-30, phasing in increased funding at one-fifth increments annually, with amounts continuously appropriated to school districts and charter schools

Requires the Legislative Analyst's Office to report to the Legislature by January 1, 2027 on the regional impacts of these LCFF changes, and prohibits districts from receiving less per-pupil state aid than they received in 2024-25