2011 California Code
Government Code
TITLE 2. GOVERNMENT OF THE STATE OF CALIFORNIA [8000 - 22980]
ARTICLE 7. Oil Spill Response Trust Fund
Section 8670.48.3

(a) Notwithstanding subparagraph (A) of paragraph (1) of subdivision (f) of Section 8670.48, a loan or other transfer of money from the fund to the General Fund pursuant to the Budget Act that reduces the balance of the Oil Spill Response Trust Fund to less than or equal to 95 percent of the designated amount specified in subdivision (a) of Section 46012 of the Revenue and Taxation Code shall not obligate the administrator to resume collection of the oil spill response fee otherwise required by this article if both of the following conditions are met:

(1) The annual Budget Act requires a transfer or loan from the fund to be repaid to the fund with interest calculated at a rate earned by the Pooled Money Investment Account as if the money had remained in the fund.

(2) The annual Budget Act requires all transfers or loans to be repaid to the fund on or before June 30, 2014.

(b) A transfer or loan described in subdivision (a) shall be repaid as soon as possible if a spill occurs and the administrator determines that response funds are needed immediately.

(c) If there is a conflict between this section and any other law or enactment, this section shall control.

(d) This section shall remain in effect until July 1, 2014, and as of that date is repealed.

(Added by Stats. 2011, Ch. 11, Sec. 5. Effective March 24, 2011. Repealed as of July 1, 2014, by its own provisions.)