California Revenue and Taxation Code 11005.4 – Notwithstanding Section 11005, for the 1993-94 fiscal year only, …
Notwithstanding Section 11005, for the 1993-94 fiscal year only, after payment of refunds therefrom and after making the deductions authorized by Section 11003 and reserving the amount determined necessary by the Pooled Money Investment Board to meet the transfers ordered or proposed to be ordered pursuant to § 16310 of the Government Code, the Controller shall, in addition to making any allocations required by Section 11005, allocate, in accordance with the procedures applicable to those moneys allocated pursuant to subdivisions (c) and (d) of Section 11005, the amount of one hundred thirty million dollars ($130,000,000) as follows:
(a) Ninety million dollars ($90,000,000) to cities in proportion to the total property tax revenue allocation reduction for each city as a result of Sections 97.02 and 97.035, as determined by the Director of Finance.
Terms Used In California Revenue and Taxation Code 11005.4
- board: means the California Department of Tax and Fee Administration. See California Revenue and Taxation Code 20
- City: includes incorporated city, city and county, municipal corporation, municipality, town, and incorporated town. See California Revenue and Taxation Code 14
- Controller: means the State Controller. See California Revenue and Taxation Code 21
- County: includes city and county. See California Revenue and Taxation Code 15
- 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.
(b) Forty million dollars ($40,000,000) to counties and cities and counties in proportion to the total property tax revenue allocation reduction for each county or city and county as a result of Sections 97.02 and 97.035, as determined by the Director of Finance.
(Added by Stats. 1993, Ch. 68, Sec. 17. Effective June 30, 1993.)