Existing law requires a state agency, as specified, to notify the Joint Legislative Budget Committee not less than 60 days prior to the effective date on which the state agency will establish or change a federal aid allocation formula to a local agency. If the chairperson of the committee informs committee members of the chairperson's intention to waive the 60-day notification period, existing law permits the chairperson to grant a waiver of that notification period after receipt of the notification if an objection is not received within 10 days. Existing law requires, upon the request of the chairperson or any member of the committee, the committee to schedule a hearing on the proposed allocation formula to be established or changed. This bill would reduce the objection period before granting a waiver to 9 days.