California Statutes
§ 64130. — 64130. (Added by Stats. 2009, Ch. 474, Sec. 1.)
California·Code GOV Government Code - GOV·Div. 3.·Title 6.7. DIVISION 3. CALIFORNIA TRANSPORTATION FINANCING AUTHORITY
Upon dissolution of the authority, title to all property owned by the authority shall vest in the successor authority created by the Legislature, if any, if the successor authority qualifies under Section 103 of the federal Internal Revenue Code of 1954, as amended, and the regulations promulgated thereunder, as an authority entitled to issue obligations on behalf of the State of California the interest on which is exempt from federal income taxation. If no successor authority is so
created, title to the property shall vest in the state.
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California § 64130. (64130. (Added by Stats. 2009, Ch. 474, Sec. 1.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 2009, Ch. 474, Sec. 1. (AB 798) Effective January 1, 2010.