(a)

(1) Pursuant to paragraph (2) of subdivision (

b) of

Section 41204, the Director of Finance shall annually adjust “the percentage of General Fund revenues appropriated for school districts and community college districts, respectively, in fiscal year 1986–87” for purposes of applying paragraph (1) of subdivision (

b) of

Section of

Article XVI of the California Constitution, to reflect those property tax revenue allocation modifications required by the qualifying provisions in a manner that ensures that those modifications will have no net fiscal impact upon the amounts that are otherwise required to be applied by the state for the support of school districts and community college districts pursuant to

Section of

Article XVI of the California Constitution.

(2) For purposes of this section, “qualifying provisions,” means all of the following: (

A) The amendments made to

Chapter 6 (commencing with

Section 95) of

Part 0.5 of Division of the Revenue and Taxation Code and

Article 7 (commencing with

Section 33680) of

Chapter of Part of Division of the Health and Safety Code during the 1991–92 Regular Session to the 2003–04 Regular Session, inclusive, and during any Extraordinary Session concurrently held during those session years, inclusive. (

B) Section 97.80 of the Revenue and Taxation Code. (

C) Section 100.06 of the Revenue and Taxation Code. (

b) Notwithstanding any other provision of law, for the 2004–05 fiscal year and each fiscal year thereafter, “the percentage of General Fund revenues appropriated for school districts and community colleges districts, respectively, in fiscal year 1986–87,” for purposes of paragraph (1) of subdivision (

b) of

Section of

Article XVI of the California Constitution, shall be deemed to be the percentage of General Fund revenues that would have been appropriated for those entities if the qualifying provisions had been operative for the 1986–87 fiscal year. (

c) It is the intent of the Legislature in enacting the act adding this

section to ensure both of the following:

(1) That the changes required by the qualifying provisions in the allocations of ad valorem property tax revenues do not have a net fiscal impact upon school districts, as defined in

Section 41302.5, or community college districts.

(2) That the changes required by the qualifying provisions in the allocations of ad valorem property tax revenues do not have a net fiscal impact upon the amounts of revenue otherwise required to be applied by the state for the support of school districts and community college districts pursuant to

Section of

Article XVI of the California Constitution.