(a) Notwithstanding any other provision of this chapter and to the extent permitted by federal and state law, the money in the fund may be used to rebate to the federal government all arbitrage profits required by the Federal Tax Reform Act of 1986 or any amendment thereof or supplement thereto. To the extent that the money in the fund may not be used for that purpose due to restraints of federal or state law, any rebates required shall be paid from the General Fund or from other sources as required by the Legislature.

(b) Notwithstanding any other provision of law, or rule or regulation, the board may enter into contracts, or procure those services and equipment, which may be necessary to ensure prompt and complete compliance with any provisions relating to the fund imposed by either the Federal Tax Reform Act of 1986 or the federal act.

Terms Used In California Water Code 13999.17 v2

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Board: means the State Water Resources Control Board. See California Water Code 13999.2
  • Fund: means the 1984 State Clean Water Bond Fund. See California Water Code 13999.2
  • State: means the State of California, unless applied to the different parts of the United States. See California Water Code 18

(Added by Stats. 1988, Ch. 47, Sec. 7. Approved in Proposition 83 at the November 8, 1988, election.)

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