(a) In the 2022-23 fiscal year, the sum of ten thousand dollars ($10,000) is hereby appropriated from the General Fund for the purposes of this section. In the 2023-24 fiscal year, the sum of one hundred fifty million dollars ($150,000,000) is hereby appropriated from the General Fund, as specified in subdivision (b), for the purposes of this section. In no event shall any funds in excess of those amounts be transferred pursuant to this section. These funds shall be available for encumbrance or expenditure until June 30, 2025.

(b) Upon the order of the Department of Finance, the Controller shall make the following transfers from the General Fund, in an amount not to exceed one hundred fifty million dollars ($150,000,000) in fiscal years 2023-24 and 2024-25, cumulatively:

Terms Used In California Revenue and Taxation Code 34019.1

  • Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
  • Controller: means the State Controller. See California Revenue and Taxation Code 21
  • 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.

(1) By November 1, 2023, the Controller shall, subject to the limitation in subdivision (a), transfer from the General Fund an amount that would enable funds disbursed to the sub-trust accounts for the 2022-23 fiscal year, pursuant to subdivision (f) of Section 34019, Section 34019.01, and this paragraph, to be equal to the 2020-21 fiscal year baseline.

(2) By November 1, 2024, the Controller shall, subject to the limitation in subdivision (a), transfer from the General Fund an amount that would enable funds disbursed to the sub-trust accounts for the 2023-24 fiscal year, pursuant to subdivision (f) of Section 34019, Section 34019.01, and this paragraph, to be equal to the 2020-21 fiscal year baseline.

(c) This section shall remain in effect only until December 31, 2026, and as of that date is repealed.

(Added by Stats. 2022, Ch. 56, Sec. 35. (AB 195) Effective June 30, 2022. Repealed as of December 31, 2026, by its own provisions.)

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