California Statutes
§ 16412. — 16412. (Added by Stats. 1953, Ch. 170.)
California·Code GOV Government Code - GOV·Div. 4.·Title 2. DIVISION 4. FISCAL AFFAIRS·Part 2. PART 2. STATE FUNDS·Ch. 2. CHAPTER 2. Special Funds·Art. 6. ARTICLE 6. Revenue Deficiency Reserve Fund
The money in the Revenue Deficiency Reserve Fund may be loaned temporarily to the General Fund upon the joint authorization of the Governor, Controller, and Director of Finance during any fiscal year in anticipation of the receipt of revenue from taxes, fees, and other sources required to be paid into the General Fund during the fiscal year. The money loaned shall be repaid during the same fiscal year from revenue received from such taxes, fees, and other sources as such revenues are received, to the extent that such revenues are not necessary for current expenditures payable out of the General Fund. If any money temporarily loaned remains unpaid at the close of the fiscal year, it shall be deemed a transfer from the Revenue Deficiency Reserve Fund to the General Fund to the same extent as
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California § 16412. (16412. (Added by Stats. 1953, Ch. 170.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 1953, Ch. 170.