AB 629

Existing law establishes the system of public elementary and secondary schools in this state and provides for their funding and governance. Existing law requires the governing board of a school district to establish and maintain an inventory, as provided, of each item of equipment acquired by the school district that has a current market value that exceeds $500. This bill would increase the above-described threshold value from $500 to instead be $1,500. The bill would require the Superintendent of Public Instruction to biennially adjust that threshold market value by a specified inflation factor, rounded to the nearest $50, and to post the adjusted threshold market value to the State Department of Education’s internet website.