California Government Code 12099.7 – The Inclusive Innovation Accelerator Account is hereby created within …
The Inclusive Innovation Accelerator Account is hereby created within the California Economic Development Fund in the State Treasury. Subject to the approval of the Department of Finance, all moneys collected and received by the office or the Governor’s Office of Business and Economic Development on the office’s behalf for California Inclusive Innovation Initiatives from gifts, bequests, or donations shall be deposited in the Inclusive Innovation Accelerator Account. Notwithstanding Section 13340, the moneys in the account are continuously appropriated to the office to be used for Accelerate California: Inclusive Innovation Initiatives pursuant to the terms of the gift, bequest, or donation.
(Amended by Stats. 2022, Ch. 68, Sec. 12. (SB 193) Effective June 30, 2022.)
Terms Used In California Government Code 12099.7
- Bequest: Property gifted by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18