Cal. Government Code § 63049.55
Cal. Government Code § 63049.55
California · California Government Code · Status: effective · Effective 2007-01-01
Cite this
- Citation
- Cal. Government Code § 63049.55, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/850780
- Permanent ID
ys:prov:850780@1- SHA-256
87b80339ddb6473e3df884c5d4d472202f5d3a473b28ece311081fdd981b83e1
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) The Tobacco Asset Sales Revenue Fund is hereby established in the State Treasury for the purpose of maintaining a separate account for the investment of proceeds received from the sale of any residual interests in tobacco assets and for the investment earnings on those proceeds.
(b) Pursuant to Article 4 (commencing with Section 16740) of Chapter 3 of Part 2 of Division 4 of Title 2, moneys in the fund may be transferred to the Surplus Money Investment Fund for investment, as long as that transfer does not jeopardize the tax-exempt status of the bonds.
(c) Upon direction by the Director of Finance, moneys in the fund shall be transferred to the General Fund.
(d) Pursuant to Section 16310, moneys in the fund may be borrowed for daily cashflow use by the General Fund.