SECTIONS 16418

16418.  (a) The Special Fund for Economic Uncertainties is herebycreated in the State Treasury and is continuously appropriated forthe purposes of this section. The contingency reserve for economicuncertainties established within the General Fund by Section 12.3 ofthe Budget Act of 1980 is hereby discontinued, and any balance inthat reserve shall be transferred to the Special Fund for EconomicUncertainties. This special fund represents a reserve fund within themeaning of Section 5 of Article XIII B of the CaliforniaConstitution. Notwithstanding Sections 16310 and 16314, theController may transfer as necessary from the Special Fund forEconomic Uncertainties or from the special accounts in the GeneralFund to the General Fund amounts that are needed to meet cash needsof the General Fund. The Controller shall return all of the moneys sotransferred without payment of interest as soon as there aresufficient moneys in the General Fund. (b) The Controller shall transfer from the Special Fund forEconomic Uncertainties to the unappropriated balance of the GeneralFund an amount necessary to eliminate any General Fund deficit as ofthe end of each fiscal year, commencing as of June 30, 1985. Theamount of transfer for each fiscal year shall be determined on thebasis of the State of California Preliminary Annual Report--AccrualBasis, for that fiscal year. Any subsequent adjustments shall bedetermined jointly by the Controller and the Director of Finance. (c) Notwithstanding Section 13340, moneys in the Special Fund forEconomic Uncertainties are hereby continuously appropriated withoutregard to fiscal years to the Director of Finance for the purpose ofallocating funds for disaster relief pursuant to Chapter 5(commencing with Section 194) and Chapter 6 (commencing with Section197) of Part 1 of Division 1 of the Revenue and Taxation Code.However, any allocation made by the director pursuant to thissubdivision shall not be made sooner than 30 days after notificationin writing of the necessity therefor is provided to the JointLegislative Budget Committee. (d) For budgeting and accounting purposes, any appropriationsheretofore or hereafter made specifically from the Special Fund forEconomic Uncertainties, other than appropriations contained in thissection, shall be deemed an appropriation from the General Fund. Foryear-end reporting purposes, the Controller shall add the balance inthe Special Fund for Economic Uncertainties to the balance in theGeneral Fund so as to show the total moneys then available forGeneral Fund purposes. (e) (1) Notwithstanding Section 13340, there is herebyappropriated from the General Fund, without regard to fiscal years,for transfer by the Controller to the Special Fund for EconomicUncertainties as of the end of each fiscal year the unencumberedbalance in the General Fund. (2) If, at the end of any fiscal year in which it has beendetermined that there are revenues in excess of the amount that maybe appropriated, as defined in subdivision (a) of Section 2 ofArticle XIII B of the California Constitution, the transfer pursuantto paragraph (1) shall be reduced by the amount of these excessrevenues. The estimates of the transfer shall be made jointly by theDepartment of Finance and the Legislative Analyst's Office.