SECTIONS 26042-26042.4 - California Statutes

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Statutes > California > Prc > 26042-26042.4

PUBLIC RESOURCES CODE
SECTION 26042-26042.4




26042.  It is the intent of the Legislature that any loss of revenue
to the General Fund occasioned by the purchase of bonds issued by
the authority shall be restored to the General Fund from revenues,
moneys, and remittances received by the State Lands Commission and
allocated pursuant to Section 6217.



26042.2.  On May 10, 1982, and on each May 10 thereafter, the
authority shall make a determination of an amount equal to one-half
of 1 percent of the total of all outstanding bonds issued pursuant to
the provisions of Article 3 (commencing with Section 26020) of
Chapter 1 as of May 1 of such year. The amount determined shall be
deemed the General Fund revenue loss for the year. The authority
shall inform the Controller of the determination made under this
section.


26042.4.  On May 15, 1982, and on each May 15 thereafter, the
Controller shall transfer to the General Fund the amount determined
by the authority pursuant to Section 26042.2 from the Energy and
Resources Fund.
   This section shall become operative only if Assembly Bill No. 2973
of the 1979-80 Regular Session is chaptered and creates the Energy
and Resources Fund.

State Codes and Statutes

Statutes > California > Prc > 26042-26042.4

PUBLIC RESOURCES CODE
SECTION 26042-26042.4




26042.  It is the intent of the Legislature that any loss of revenue
to the General Fund occasioned by the purchase of bonds issued by
the authority shall be restored to the General Fund from revenues,
moneys, and remittances received by the State Lands Commission and
allocated pursuant to Section 6217.



26042.2.  On May 10, 1982, and on each May 10 thereafter, the
authority shall make a determination of an amount equal to one-half
of 1 percent of the total of all outstanding bonds issued pursuant to
the provisions of Article 3 (commencing with Section 26020) of
Chapter 1 as of May 1 of such year. The amount determined shall be
deemed the General Fund revenue loss for the year. The authority
shall inform the Controller of the determination made under this
section.


26042.4.  On May 15, 1982, and on each May 15 thereafter, the
Controller shall transfer to the General Fund the amount determined
by the authority pursuant to Section 26042.2 from the Energy and
Resources Fund.
   This section shall become operative only if Assembly Bill No. 2973
of the 1979-80 Regular Session is chaptered and creates the Energy
and Resources Fund.

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State Codes and Statutes

Statutes > California > Prc > 26042-26042.4

PUBLIC RESOURCES CODE
SECTION 26042-26042.4




26042.  It is the intent of the Legislature that any loss of revenue
to the General Fund occasioned by the purchase of bonds issued by
the authority shall be restored to the General Fund from revenues,
moneys, and remittances received by the State Lands Commission and
allocated pursuant to Section 6217.



26042.2.  On May 10, 1982, and on each May 10 thereafter, the
authority shall make a determination of an amount equal to one-half
of 1 percent of the total of all outstanding bonds issued pursuant to
the provisions of Article 3 (commencing with Section 26020) of
Chapter 1 as of May 1 of such year. The amount determined shall be
deemed the General Fund revenue loss for the year. The authority
shall inform the Controller of the determination made under this
section.


26042.4.  On May 15, 1982, and on each May 15 thereafter, the
Controller shall transfer to the General Fund the amount determined
by the authority pursuant to Section 26042.2 from the Energy and
Resources Fund.
   This section shall become operative only if Assembly Bill No. 2973
of the 1979-80 Regular Session is chaptered and creates the Energy
and Resources Fund.