California Revenue and Taxation Code 7105.1 – (a) The State Highway Account in the State Transportation Fund …
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(a) The State Highway Account in the State Transportation Fund is the successor account to the Transportation Deferred Investment Fund.
(b) All assets and liabilities of the Transportation Deferred Investment Fund shall become assets and liabilities of the State Highway Account on or before January 1, 2020.
Terms Used In California Revenue and Taxation Code 7105.1
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
(Added by Stats. 2019, Ch. 32, Sec. 10. (SB 87) Effective June 27, 2019.)