California Health and Safety Code

§ 50468

HSC § 50468 Effective Jan 1, 2024Div. 31 · Part 2 · Ch. 2

Statute text

(a)The department shall not require a project-specific transition reserve for any unit subject to a qualified project rental or operating subsidy.

(b)The Pooled Transition Reserve Fund is hereby created within the State Treasury and, notwithstanding Section 13340 of the Government Code, is continuously appropriated to the department for the purpose of establishing and maintaining a pooled transition reserve. The fund shall consist of all of the following:

(1)Fees charged by the department to projects that receive qualified project rental or operating subsidies at the time of permanent loan closing.

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Legislative history

Amended by Stats. 2023, Ch. 770, Sec. 18. (AB 1764) Effective January 1, 2024.