California § 125291.80. 125291.80. (Added November 2, 2004, by initiative Proposition 71, Sec. 5.)

California Statutes

§ 125291.80. — 125291.80. (Added November 2, 2004, by initiative Proposition 71, Sec. 5.)

California § 125291.80.

JurisdictionCalifornia

Code HSCHealth and Safety Code - HSC

Div. 106.DIVISION 106. PERSONAL HEALTH CARE (INCLUDING MATERNAL, CHILD, AND ADOLESCENT)

Part 5.PART 5. HEREDITARY DISEASES/CONGENITAL DEFECTS

Ch. 3.CHAPTER 3. California Stem Cell Research and Cures Bond Act

Art. 2.ARTICLE 2. California Stem Cell Research and Cures Bond Act of 2004

This text of California § 125291.80. (125291.80. (Added November 2, 2004, by initiative Proposition 71, Sec. 5.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Cal. Health and Safety Code - HSC Code § 125291.80. (2026).

Text

Notwithstanding any provision of this article or the State General Obligation Bond Law, if the Treasurer sells bonds pursuant to this article that include a bond counsel opinion to the effect that the interest on the bonds is excluded from gross income for federal tax purposes, subject to designated conditions, the Treasurer may maintain separate accounts for the investment of bond proceeds and the investment earnings on those proceeds.  The Treasurer may use or direct the use of those proceeds or earnings to pay any rebate, penalty, or other payment required under federal law or to take any other action with respect to the investment and use of bond proceeds required or desirable under federal law to maintain the tax-exempt status of those bonds and to obtain any other advantage under fed

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Notwithstanding any provision of this article or the State General Obligation Bond Law, if the Treasurer sells bonds pursuant to this article that include a bond counsel opinion to the effect that the interest on the bonds is excluded from gross income for federal tax purposes, subject to designated conditions, the Treasurer may maintain separate accounts for the investment of bond proceeds and the investment earnings on those proceeds. The Treasurer may use or direct the use of those proceeds or earnings to pay any rebate, penalty, or other payment required under federal law or to take any other action with respect to the investment and use of bond proceeds required or desirable under federal law to maintain the tax-exempt status of those bonds and to obtain any other advantage under federal law on behalf of the funds of this state.