Bill Text: CA SB594 | 2017-2018 | Regular Session | Amended
Bill Title: Flood risk: dam failure: expedited permit processing and approval: human life safety protection.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2018-02-01 - Returned to Secretary of Senate pursuant to Joint Rule 56. [SB594 Detail]
Download: California-2017-SB594-Amended.html
Amended
IN
Senate
April 03, 2017 |
Senate Bill | No. 594 |
Introduced by Senator Beall |
February 17, 2017 |
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:Bill Text
The people of the State of California do enact as follows:
SECTION 1.
Section 14105.5 is added to the Government Code, to read:14105.5.
(a) The department shall, on or before January 1, 2019, draft a plan to establish and meet all of the following goals:(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.