California Welfare and Institutions Code

§ 10305

WIC § 10305 Effective Jul 23, 2021Div. 9 · Part 1.8 · Ch. 13

Statute text

(a)For purposes of this section “department” means the Department of Housing and Community Development.

(b)Subject to appropriation in the annual Budget Act, the Child Care and Development Facilities Loan Guaranty Fund and the Child Care and Development Facilities Direct Loan Fund are hereby established in the State Treasury. The State Department of Social Services may transfer state funds appropriated for child care and preschool facilities enhancement and the proceeds derived from any future sales of tax-exempt child care and development and preschool facilities bonds into these funds.

(c)Notwithstanding Section 13340 of the Government Code, all moneys in the Child Care and Development Facilities Loan Guaranty Fund and the Child Care and Development Facilities Direct Loan Fund, including any interest on loans made from the fund, or loan repayments to the fund, are hereby continuously appropriated to the department for carrying out the purposes of this section and Section 10305.5, respectively. Any loan repayment or interest resulting from investment or deposit of moneys in these funds shall be deposited in the applicable fund, notwithstanding Section 16305.7 of the Government Code. Moneys in the funds shall not be subject to transfer to any other fund pursuant to Part 2 (commencing with Section 16300) of Division 4 of Title 2 of the Government Code, except the Surplus Money Investment Fund.

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Legislative history

Added by Stats. 2021, Ch. 116, Sec. 260. (AB 131) Effective July 23, 2021.