California § 53557. 53557. (Added by Stats. 2006, Ch. 27, Sec. 2.)

California Statutes

§ 53557. — 53557. (Added by Stats. 2006, Ch. 27, Sec. 2.)

California § 53557.

JurisdictionCalifornia

Code HSCHealth and Safety Code - HSC

Div. 31.DIVISION 31. HOUSING AND HOME FINANCE

Part 12.PART 12. HOUSING AND EMERGENCY SHELTER TRUST FUND ACT OF 2006

Ch. 3.CHAPTER 3. Fiscal Provisions

This text of California § 53557. (53557. (Added by Stats. 2006, Ch. 27, Sec. 2.)) 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.

Bluebook

Cal. Health and Safety Code - HSC Code § 53557. (2026).

Text

Notwithstanding any provision of the State General Obligation Bond Law with regard to the proceeds from the sale of bonds authorized by this part that are subject to investment under Article 4 (commencing with Section 16470) of Chapter 3 of Part 2 of Division 4 of Title 2 of the Government Code, the Treasurer may maintain a separate account for investment earnings, order the payment of those earnings to comply with any rebate requirement applicable under federal law, and may otherwise direct the use and investment of those proceeds so as 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.

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Notwithstanding any provision of the State General Obligation Bond Law with regard to the proceeds from the sale of bonds authorized by this part that are subject to investment under Article 4 (commencing with Section 16470) of Chapter 3 of Part 2 of Division 4 of Title 2 of the Government Code, the Treasurer may maintain a separate account for investment earnings, order the payment of those earnings to comply with any rebate requirement applicable under federal law, and may otherwise direct the use and investment of those proceeds so as 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.

Legislative History

Added by Stats. 2006, Ch. 27, Sec. 2. Approved in Proposition 1C at the November 7, 2006, election.

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California § 53557., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/HSC/53557..