California Government Code

§ 16320

GOV § 16320 Effective Mar 24, 2011Div. 4 · Title 2 · Part 2 · Ch. 1

Statute text

(a)Unless otherwise prohibited by law, moneys in the State Treasury may be loaned from one state fund or account to any other state fund or account to address the 2001–02, 2002–03, and 2003–04 fiscal year budgetary shortfalls, subject to all of the following conditions:

(1)The loan is authorized in the 2002 Budget Act, legislation enacted in a 2003–04 Extraordinary Session, or the 2003 Budget Act.

(2)The terms and conditions of the loan, including an interest rate, are set forth in the loan authorization.

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Legislative history

Amended by Stats. 2011, Ch. 11, Sec. 11. (SB 80) Effective March 24, 2011.