California Government Code

§ 16330

GOV § 16330 Effective Aug 1, 2011Div. 4 · Title 2 · Part 2 · Ch. 1

Statute text

(a)(1) The State Agency Investment Fund is hereby created within the State Treasury, for the receipt of deposits from state agencies with moneys not currently required by law to be deposited in the Pooled Money Investment Account.

(2)For purposes of this section, a “state agency” includes any state office, officer, department, division, bureau, board, commission, organization, or agency, including, but not limited to, the University of California, the California State University, the California Community Colleges, and the Judicial Council.

(b)Each agency that deposits moneys in the fund shall deposit no less than a total of five hundred million dollars ($500,000,000). The total amount of moneys that may be deposited in the fund from all eligible sources shall not exceed, at any point in time, a total of ten billion dollars ($10,000,000,000), or a lesser amount as determined by the Director of Finance, in consultation with the Treasurer.

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Legislative history

Added by Stats. 2011, Ch. 142, Sec. 1. (SB 79) Effective August 1, 2011.