AB 121: Education finance: education omnibus budget trailer bill.

This bill aims to improve education finance in California by making several changes to existing laws. It requires the state superintendent to review and consider studies on county office of education fiscal distress and conditionally approve or disapprove budgets accordingly. The bill also requires the superintendent to notify the county board of education and the county superintendent of schools of financial obligations and take actions to enable the county office of education to meet its obligations. The bill extends the encumbrance, expenditure, and reversion periods for certain grant funds, making an appropriation for education programs. It also extends the deadline for a report on the expenditure of funds and outcome data for the universal preschool planning grant program. Additionally, the bill reduces the allocation for the inclusive early education expansion program and expands…