California Revenue and Taxation Code 11053 – Revenues from the transportation improvement fee, after deduction of …
Revenues from the transportation improvement fee, after deduction of the department’s administrative costs related to this chapter, shall be transferred by the department to the Controller for deposit as follows:
(a) Commencing with the 2017-18 fiscal year, three hundred fifty million dollars ($350,000,000), plus an annual increase for inflation as determined in subdivision (b) of Section 11052 for this proportional share, shall annually be deposited into the Public Transportation Account. The Controller shall, each month, transfer one-twelfth of this amount, except in the 2017-18 fiscal year, when the Controller shall transfer one-sixth of this amount, to accumulate a total of three hundred fifty million dollars ($350,000,000) plus the inflation adjustment amount in each fiscal year. The Controller may adjust the amount transferred in the final month or months of each fiscal year if necessary to achieve the annual amount specified in this subdivision. For each fiscal year commencing with the 2017-18 fiscal year, the annual Budget Act shall include an appropriation for 70 percent of these revenues to be allocated to the Transit and Intercity Rail Capital Program (Part 2 (commencing with Section 75220) of Division 44 of the Public Resources Code), pursuant to § 99312.4 of the Public Utilities Code. The remaining 30 percent of these revenues shall be continuously appropriated to the Controller for allocation under the State Transit Assistance Program, pursuant to subdivision (c) of § 99312.1 of the Public Utilities Code.
Terms Used In California Revenue and Taxation Code 11053
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- 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.
(b) Commencing with the 2017-18 fiscal year, two hundred fifty million dollars ($250,000,000) shall annually be deposited into the State Highway Account for appropriation by the annual Budget Act to the Solutions for Congested Corridor Program created pursuant to § 2391 of the Streets and Highways Code. The Controller shall, each month, transfer one-twelfth of this amount, except in the 2017-18 fiscal year, when the Controller shall transfer one-sixth of this amount, to accumulate a total of two hundred fifty million dollars ($250,000,000) in each fiscal year. The Controller may adjust the amount transferred in the final month or months of each fiscal year if necessary to achieve the annual amount specified in this subdivision.
(c) The remaining revenues after the transfers made in subdivisions (a) and (b) shall be deposited into the Road Maintenance and Rehabilitation Account created pursuant to Section 2031 of the Streets and Highway Code.
(Amended by Stats. 2018, Ch. 92, Sec. 189. (SB 1289) Effective January 1, 2019.)