California Health and Safety Code 116761.70 – (a) The Safe Drinking Water State Revolving Fund Administration …
(a) The Safe Drinking Water State Revolving Fund Administration Fund is hereby created in the State Treasury.
(b) The following moneys shall be deposited into the administration fund:
Terms Used In California Health and Safety Code 116761.70
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- 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.
- State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23
(1) Moneys transferred to pay the costs incurred by the state board in connection with the administration of this chapter.
(2) The amounts collected for financial assistance services pursuant to subdivision (c).
(3) Notwithstanding § 16475 of the Government Code, any interest earned upon the moneys in the fund.
(c) (1) For financial assistance made pursuant to this chapter, where that financial assistance is to be repaid to the state board, the state board may assess an annual charge for financial assistance services with regard to the financial assistance, not to exceed 1 percent of the financial assistance balance, computed according to the true interest cost method.
(2) The financial assistance service rate authorized by this subdivision may be applied at any time during the term of the financial assistance, and once applied, shall remain unchanged for the duration of the financial assistance and shall not increase the financial assistance repayment amount, as set forth in the terms and conditions imposed pursuant to this chapter.
(d) Upon appropriation by the Legislature, moneys in the administration fund may be expended by the state board for payment of the reasonable costs of administering the fund.
(e) The state board shall set the total amount of revenue collected each year through the charge authorized by subdivision (c) at an amount that is equal as practicable to the appropriation amount set forth in the annual Budget Act for this activity. At least once each fiscal year, the state board shall adjust the financial assistance service charge imposed pursuant to subdivision (c) to conform with the appropriation amount set forth in the annual Budget Act.
(Repealed and added by Stats. 2015, Ch. 673, Sec. 18. (AB 1531) Effective January 1, 2016.)