The board of governors shall adopt regulations providing for the payment of apportionments to districts on a schedule to include an advance apportionment and a first and second principal apportionment. Unless and until the dates related to these apportionments are amended in consultation with the Department of Finance, the regulations shall provide for the following schedule of payments as provided in this section:
(a) The board of governors shall certify estimated apportionments to the Controller on or before July 15 of each year.
(b) The first principal apportionment shall be certified on or before February 20 of each year, at which time shall also be made any final apportionment and recalculation of prior years, as applicable.
(c) The second principal apportionment shall be certified on or before June 25 of each year.
(Amended by Stats. 1990, Ch. 1372, Sec. 653.)
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