California Revenue and Taxation Code

§ 42104

RTC § 42104 Effective Jun 24, 2015Div. 2 · Part 21.1

Statute text

(a)To provide adequate cashflow for expenses incurred by the board in the administration and collection of the local charges, the Director of Finance may approve a short-term loan in the 2015–16 fiscal year from the General Fund to the Local Charges for Prepaid Mobile Telephony Services Fund.

(b)For the purposes of this section, a short-term loan is a transfer that is made subject to the following conditions:

(1)Any amount loaned is to be repaid in full during the same fiscal year in which the loan was made, except that the repayment may be delayed until a date not more than six months after the date of enactment of the annual Budget Act for the subsequent fiscal year.

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Legislative history

Added by Stats. 2015, Ch. 25, Sec. 56. (SB 84) Effective June 24, 2015. Repealed as of January 1, 2031, pursuant to Section 42111.