Cal. Code Regs. tit. 2, § 1702 – Reporting Requirements and Return of Funds.

(a) Any school district, county office of education, or Charter School that sells real property and is subject to the provisions of Education Code Section 17462.3(a) is required to submit a completed Form SAB 308 to the OPSC within 90 calendar days of the sale of the real property, as outlined in Section 1701(b).
(b) When calculating the portion of the real property sold pursuant to EC Section 17462.3(c), the gross acreage/square footage of the school site as well as square footage of building area shall be considered for the purpose of determining the proportionate percentage of funding to be returned.
(c) When the Board makes a finding that the school district, county office of education, or Charter School, is subject to the provisions of Education Code Section 17462.3, the school district, county office of education, or Charter School must return the moneys to the Board within 90 calendar days of the Board's finding.

Note: Authority cited: Section 17462.3, Education Code. Reference: Section 17462.3, Education Code.

1. New section filed 5-4-2015; operative 7-1-2015 (Register 2015, No. 19).