§ 3211. — 3211. (Added by Stats. 2024, Ch. 559, Sec. 48.)

California § 3211.

• Jurisdiction: California
• Code FAC: Food and Agricultural Code - FAC
• Div. 3.: DIVISION 3. EXPOSITIONS AND FAIRS
• Part 1.: PART 1. GENERAL PROVISIONS
• Ch. 3.: CHAPTER 3. Revenue and Fiscal Provisions

Text

(a)
(1)
The secretary shall prepare and submit to the Department of Finance an estimate of revenue to be deposited into the fund and allocations to be made from the fund for each fiscal year.
(2)
The Director of Finance may authorize short-term cashflow loans from the unappropriated surplus of the General Fund to the Fair and Exposition Fund if both of the following conditions are met:
(A)
The loan will be repaid during the same fiscal year in which it is made.
(B)
No loan exceeds the amount remaining to be allocated in any fiscal year or 75 percent of the revenue estimated to be deposited into the
Fair and Exposition Fund during the remainder of the fiscal year.
(b)
The secretary shall notify the Controller when loans under this section are no longer required and any unnecessary loan funds shall be returned to the General Fund.

Legislative History

Added by Stats. 2024, Ch. 559, Sec. 48. (AB 2143) Effective January 1, 2025.