California Government Code

§ 14528.56

GOV § 14528.56 Effective Jan 1, 2015Div. 3 · Title 2 · Part 5.3 · Ch. 2

Statute text

The following shall pertain to local alternative transportation improvement programs developed and approved pursuant to Sections 14528.5 and 14528.55:

(a)The department shall maintain a separate account in the state’s Special Deposit Fund for each approved local alternative transportation improvement program into which it will deposit the funds derived from the sale of the respective excess properties pursuant to subdivision (c) of Section 14528.5 and subdivision (c) of Section 14528.55. All proceeds received by the department from the sale of those excess properties that are available pursuant to those subdivisions for the respective local alternative transportation improvement programs, less reimbursement for costs incurred by the department for administration of each account, shall be deposited in each respective account, along with all interest earnings generated by the funds in the respective account.

(b)Funds in each account shall be available for expenditure by the local agencies for projects designated in the respective local alternative transportation improvement program approved by the commission pursuant to Section 14528.5 or 14528.55.

…

Legislative history

Amended by Stats. 2014, Ch. 71, Sec. 75. (SB 1304) Effective January 1, 2015.