California Public Resources Code 4629.11 – (a) ? Notwithstanding any other law, the revenues in any fiscal year …
Current as of: 2024 | Check for updates
|
Other versions
(a) ? Notwithstanding any other law, the revenues in any fiscal year may be accounted for on an accrued basis. The department may borrow against anticipated revenues to the fund to meet cashflow needs.
(b) Notwithstanding any other law, a loan obtained pursuant to subdivision (a) shall be interest free. The department shall repay the loan in a timely manner from reserves received into the fund.
Terms Used In California Public Resources Code 4629.11
- 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. 2012, Ch. 289, Sec. 3. (AB 1492) Effective September 11, 2012.)