EDC § 41207.46

If the Director of Finance determines that, for the 2018–19 fiscal year, the state has applied moneys for the support of school districts and community college districts in an amount that exceeds the minimum funding obligation required for the 2018–19 fiscal year pursuant to Section 8 of Article XVI of the California Constitution, the excess, up to three hundred sixty-eight million three hundred fifty-five thousand dollars ($368,355,000), shall be deemed, as of June 30, 2019, a payment in satisfaction of the outstanding balance of the minimum funding obligation to school districts and community college districts, pursuant to Section 8 of Article XVI of the California Constitution, for the 2009–10 fiscal year.