Statute · California Education Code
Cal. Educ. Code § 69521.8 — Maximizing the Value of the State Student Loan Guarantee Program Assets and Liabilities
Cal. Educ. Code § 69521.8
- Type
- Statute
- Source
- California Education Code
- Jurisdiction
- California
- Date
- 2007-08-24
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) The Director of Finance shall deposit all proceeds of any sale of, or any funds achieved through any other arrangement to maximize the value of, the state student loan guarantee program assets and liabilities under this article, net of any costs related to that transaction, into the General…
Citator
Cal. Educ. Code § 69521.8 — Maximizing the Value of the State Student Loan Guarantee Program Assets and Liabilities is in force in the current edition of the Code, and nothing recorded condemns it.
(a) The Director of Finance shall deposit all proceeds of any sale of, or any funds achieved through any other arrangement to maximize the value of, the state student loan guarantee program assets and liabilities under this article, net of any costs related to that transaction, into the General Fund.
(b) The proceeds of any sale of, or any funds achieved through any other arrangement to maximize the value of, the state student loan guarantee program assets and liabilities are not “proceeds of taxes” as that term is used in subdivision (c) of Section 8 of Article XIIIB of the California Constitution. The disbursement of these proceeds is not subject to the limitations imposed by that article.