(a) Commencing with the 1984-85 fiscal year, the Controller shall annually transfer from the General Fund to the Highway Users Tax Account in the Transportation Tax Fund, the amount, as determined by the State Board of Equalization, necessary to fully reimburse the account for any revenue loss caused by the exemptions provided by paragraphs (5) and (6) of subdivision (b) of Section 8655.

(b) In addition, the Controller shall transfer, on January 1, 1985, the sum of four hundred thirty-five thousand dollars ($435,000) from the General Fund to the account to fully reimburse the account for the revenue loss caused by Section 3 of the act enacting this section.

Terms Used In California Revenue and Taxation Code 8655.5

  • board: means the California Department of Tax and Fee Administration. See California Revenue and Taxation Code 20
  • 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.

(Added by Stats. 1984, Ch. 1663, Sec. 2. Appropriations vetoed by Governor. Effective September 30, 1984. Operative October 1, 1984, by Sec. 4 of Ch. 1663. Note: The appropriations shown in the text of this section were deleted by the Governor in his item-veto message.)

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