California Revenue and Taxation Code

§ 7102

RTC § 7102 Effective Jan 1, 2019Div. 2 · Part 1 · Ch. 9

Statute text

The money in the fund shall, upon order of the Controller, be drawn therefrom for refunds under this part, credits or refunds pursuant to Section 60202, and refunds pursuant to Section 1793.25 of the Civil Code, or be transferred in the following manner:

(a)(1) All revenues, less refunds, derived under this part at the 434-percent rate, including the imposition of sales and use taxes with respect to the sale, storage, use, or other consumption of motor vehicle fuel that would not have been received if the sales and use tax rate had been 5 percent and if motor vehicle fuel, as defined for purposes of the Motor Vehicle Fuel License Tax Law (Part 2 (commencing with Section 7301)), had been exempt from sales and use taxes, shall be estimated by the State Board of Equalization, with the concurrence of the Department of Finance, and shall be transferred quarterly to the Public Transportation Account, a trust fund in the State Transportation Fund, except as modified as follows:

(A)For the 2001–02 fiscal year, those transfers may not be more than eighty-one million dollars ($81,000,000) plus one-half of the amount computed pursuant to this paragraph that exceeds eighty-one million dollars ($81,000,000).

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Legislative history

Amended by Stats. 2018, Ch. 92, Sec. 186. (SB 1289) Effective January 1, 2019. Note: Section 7102 was amended on June 5, 1990, by initiative Prop. 116.