CHAPTER 3. General Fund Revenue Loss [26042. - 26042.4.]

Cal. Public Resources Code - PRC 3.

in effect

Cal. Public Resources Code - PRC § 26042. Section 26042.

It is the intent of the Legislature that any loss of revenue to the General Fund occasioned by the purchase of bonds issued by the authority shall be restored to the General Fund from revenues, moneys, and remittances received by the State Lands Commission and allocated pursuant to Section 6217.

Cal. Public Resources Code - PRC § 26042.2. Section 26042.2.

On May 10, 1982, and on each May 10 thereafter, the authority shall make a determination of an amount equal to one-half of 1 percent of the total of all outstanding bonds issued pursuant to the provisions of Article 3 (commencing with Section 26020) of Chapter 1 as of May 1 of such year. The amount determined shall be deemed the General Fund revenue loss for the year. The authority shall inform the Controller of the determination made under this section.

Cal. Public Resources Code - PRC § 26042.4. Section 26042.4.

On May 15, 1982, and on each May 15 thereafter, the Controller shall transfer to the General Fund the amount determined by the authority pursuant to Section 26042.2 from the Energy and Resources Fund. This section shall become operative only if Assembly Bill No. 2973 of the 1979–80 Regular Session is chaptered and creates the Energy and Resources Fund.

Source: CA Legislative Counsel Bulk DataURL: https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zipFetched: 6/27/2026