(a) There is hereby created the Climate Smart Agriculture Account in the Department of Food and Agriculture Fund, which shall consist of moneys made available from federal, state, industry, philanthropic, and private sources.

(b) Notwithstanding § 13340 of the Government Code, the Climate Smart Agriculture Account is hereby continuously appropriated without regard to fiscal years to the department to carry out the purposes of this article.

Terms Used In California Food and Agricultural Code 569.5

  • Department: means the Department of Food and Agriculture. See California Food and Agricultural Code 32
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Subdivision: means a subdivision of the section in which that term occurs unless some other section is expressly mentioned. See California Food and Agricultural Code 49

(c) Notwithstanding any other law, the Controller may use the moneys in the Climate Smart Agriculture Account for cash flow loans to the General Fund as provided in Sections 16310 and 16381 of the Government Code. Any such loan shall be exempt from paragraph (2) of subdivision (b) of § 16310 of the Government Code. Interest shall be paid on all moneys loaned to the General Fund and shall be computed at a rate determined by the Pooled Money Investment Board to be the current earning rate of the account. This subdivision shall not authorize any transfer that would interfere with the carrying out of the object for which the account was created.

(d) (1) For any fiscal year in which moneys are received into or expended from the Climate Smart Agriculture Account, the department, no later than January 10 following the close of the fiscal year, shall submit to the Legislature an overview of the account’s income and expenditures.

(2) An overview to be submitted pursuant to this subdivision shall be submitted in compliance with § 9795 of the Government Code.

(Added by Stats. 2021, Ch. 115, Sec. 10. (AB 148) Effective July 22, 2021.)

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