Bill Text: CA AB2473 | 2017-2018 | Regular Session | Amended
Bill Title: State Highway Route 185: relinquishment: City of San Leandro.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Passed) 2018-09-10 - Chaptered by Secretary of State - Chapter 321, Statutes of 2018. [AB2473 Detail]
Download: California-2017-AB2473-Amended.html
Amended
IN
Assembly
March 22, 2018 |
Assembly Bill | No. 2473 |
Introduced by Assembly Member Bonta |
February 14, 2018 |
LEGISLATIVE COUNSEL'S DIGEST
Existing law authorizes the Controller to use the funds in the Highway Users Tax Account in the Transportation Tax Fund for cashflow loans to the General Fund.
This bill would make nonsubtantive changes to these provisions.
Digest Key
Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NOBill Text
The people of the State of California do enact as follows:
SECTION 1.
Section 485 of the Streets and Highways Code is amended to read:485.
(a) Route 185 is from Route 92 in Hayward to Route 77 in Oakland.(2)
(a)The Highway Users Tax Fund is continued in existence as the Highway Users Tax Account in the Transportation Tax Fund. Any reference in any law or regulation to the Highway Users Tax Fund shall be deemed to refer to the Highway Users Tax Account in the Transportation Tax Fund.
(b)Notwithstanding any other law, the Controller may use the funds in the Highway Users Tax Account in the Transportation Tax Fund for cashflow loans to the General Fund as provided in Sections 16310 and 16381 of the Government Code. This loan shall be exempt from paragraph (2) of subdivision (b) of Section 16310 of the Government Code. Interest shall be paid on all moneys loaned to the General Fund and shall be computed at a rate determined by the Pooled Money Investment Board to be the current earning rate of the fund from which the money is
loaned. This subdivision does not authorize any transfer that would interfere with the carrying out of the object for which these funds were created.