California Government Code

§ 16475

GOV § 16475 Effective Jul 10, 2017Div. 4 · Title 2 · Part 2 · Ch. 3 · Art. 4

Statute text

At the conclusion of each calendar quarter, all interest earned and other increment derived from investments made pursuant to this article, interest earnings from demand accounts, and interest earnings pursuant to Section 20825 shall, on order of the Controller, be deposited in the Surplus Money Investment Fund. The Controller, after deducting an amount equal to the reasonable costs incurred by the Treasurer, the Controller, and the Department of Finance in carrying out this article, shall apportion, quarterly, to the following funds in the Treasury, interest earned or increment derived for the three calendar months ending with those dates:

(a)The General Fund.

(b)Each fund into which are deposited or which contains moneys collected from any tax now or hereafter imposed by the state upon the manufacture, sale, distribution, or use of motor vehicle fuel, for use in motor vehicles upon the public streets and highways.

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Legislative history

Amended by Stats. 2017, Ch. 50, Sec. 1. (SB 84) Effective July 10, 2017.