California Public Resources Code

§ 3434

PRC § 3434 Effective Sep 30, 2024Div. 3 · Ch. 1 · Art. 7

Statute text

(a)If the department determines between June 15, 2024, and March 1, 2025, that the estimate made pursuant to Section 3410 of the amount of money that will be required to carry out the provisions of this chapter is insufficient for the current fiscal year, the department may assess and levy a supplemental assessment on oil and gas production to ensure that funds are available for the full amount of the adjusted cost estimate. The department shall not issue a supplemental assessment pursuant to this section after March 1, 2025.

(b)Issuance of a supplemental assessment shall not affect the requirements and authorities for collecting unpaid assessments on oil and gas pursuant to this article. If the total amount collected under the assessment and any supplemental assessments exceed the total amount required to carry out the provisions of this chapter for the fiscal year, the excess shall be carried forward to reduce the assessment for the following year as an adjustment for savings pursuant to Section 3410.

(c)If a supplemental assessment is issued pursuant to this section, the charges shall be computed in accordance with Sections 3402 and 3403, and the supplemental assessment shall be issued and collected in accordance with the requirements and authorities of this article with the following exceptions:

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Legislative history

Added by Stats. 2024, Ch. 1002, Sec. 9. (AB 218) Effective September 30, 2024. Repealed as of January 1, 2027, by its own provisions.