§ 16951. — 16951. (Added by Stats. 2004, Ch. 215, Sec. 4.)

California § 16951.

• Jurisdiction: California
• Code GOV: Government Code - GOV
• Div.: 4.
• Title 2.: DIVISION 4. FISCAL AFFAIRS
• Part 3.: PART 3. STATE BONDS
• Ch. 8.: CHAPTER 8. The California Pension Restructuring Bond Act of 2004
• Art. 2.: ARTICLE 2. Issuance of Bonds to Finance the Program

Text

When proceeds of bonds issued pursuant to this chapter are used to pay the state’s pension obligations to the retirement system for members whose compensation is paid from the General Fund, the Controller shall, notwithstanding any other provision of law, abate quarterly to the General Fund an amount equal to the quarterly pension obligations paid from bond proceeds with respect to those members, as certified by the Director of Finance and authorized in any General Fund appropriation item or in any category thereof.

Legislative History

Added by Stats. 2004, Ch. 215, Sec. 4. Effective August 11, 2004.