2012 California Codes
PUC - Public Utilities Code
DIVISION 20 - SAN BERNARDINO COUNTY TRANSPORTATION COMMISSION [190000 - 190323]
CHAPTER 4 - Transactions and Use Tax
Section 190307
The commission may reduce a tax rate to percentages lower than that approved by the voters and may further provide for an increase of the tax rate if it has previously been lowered. However, the tax rate may not be increased to a rate above the tax rate approved by the voters.
Any reduced tax rate may be adopted only if the commission determines, by a two-thirds vote, that the proceeds of the taxes with the altered tax rate will be sufficient to provide for the payment of principal of, and interest on, any limited tax bonds and any other indebtedness incurred by the commission which was to be payable from the proceeds of the retail transactions and use tax.
(Added by Stats. 1987, Ch. 270, Sec. 1. Effective July 28, 1987.)
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