In his 2012-13 budget, Governor Brown proposed a new system for allocating state revenue among California school districts. In May the governor revised his proposal. Using the Public Policy Institute of California (PPIC) School Finance Model (available at www.ppic.org/main/dataSet.asp?i=1229), in this update the authors show how these proposals would guide the allocation of additional revenue among school districts. Under both proposals, school districts educating high percentages of disadvantaged students would receive the largest revenue gains. Compared to the original proposal, the revised proposal provides less funding for disadvantaged students and substantially reduces differences in gains among districts. (Contains 2 tables and 3 footnotes.) [For the third report, "Funding Formulas for California Schools III: An Analysis of Governor Brown's Weighted Pupil Funding Formula," see ED531797.]