EDC §41207.44: If the Superintendent and the Director of Finance jointly determine that, for the 2016–17 fiscal year, the state has applied moneys for the support of school districts and community college districts

If the Superintendent and the Director of Finance jointly determine that, for the 2016–17 fiscal year, the state has applied moneys for the support of school districts and community college districts in an amount that exceeds the minimum amount required for the 2016–17 fiscal year pursuant to Section 8 of Article XVI of the California Constitution, the excess, up to five hundred thirteen million six hundred forty-three thousand dollars ($513,643,000) shall be deemed, as of June 30, 2017, 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.