§ 62554. — 62554. (Added by Stats. 2024, Ch. 767, Sec. 1.)

California § 62554.

• Jurisdiction: California
• Code GOV: Government Code - GOV
• Title 6.5.: TITLE 6.5. Regional Housing Finance Authorities
• Part 2.: PART 2. Authority Financing Activities
• Ch. 2.: CHAPTER 2. Revenue
• Art. 1.: ARTICLE 1. Special Taxes

Text

All special taxes levied pursuant to this article shall be administered in the following manner:
(a)
Taxes collected shall be deposited in a separate fund, which shall be established in the treasury of the entity charged with administering and collecting the special taxes pursuant to Section 62553 and used only as prescribed by this section.
(b)
The entity charged with administering and collecting the special taxes shall transfer moneys intended for regional projects pursuant to Section 62590 from the fund to the authority periodically as promptly as feasible. The
transmittals shall be made at least twice in each calendar quarter.
(c)
The administering entity may deduct incremental costs associated with administering any taxes approved pursuant to this article from the portion transferred to the authority pursuant to subdivision (b).

Legislative History

Added by Stats. 2024, Ch. 767, Sec. 1. (SB 440) Effective January 1, 2025.