Statute · California Government Code
Cal. Gov't Code § 17255 — Reimbursement and Refunding Warrants
Cal. Gov't Code § 17255
- Type
- Statute
- Source
- California Government Code
- Jurisdiction
- California
- Date
- 2009-02-20
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) It is the intent of the Legislature, in enacting this section, to recognize the state’s General Fund budget deficit accumulated prior to July 1, 2009. It is further the intent of the Legislature that proceeds from the sale of reimbursement warrants, a short-term obligation up to the amount…
Citator
Cal. Gov't Code § 17255 — Reimbursement and Refunding Warrants is in force in the current edition of the Code, and nothing recorded condemns it.
(a) It is the intent of the Legislature, in enacting this section, to recognize the state’s General Fund budget deficit accumulated prior to July 1, 2009. It is further the intent of the Legislature that proceeds from the sale of reimbursement warrants, a short-term obligation up to the amount needed to offset the accumulated General Fund Budget deficit through June 30, 2009, be accounted for as a reduction in expenditures for the 2008–09 fiscal year.
(b) For purposes of this section, the “accumulated General Fund budget deficit through June 30, 2009” means the projected negative balance of the Special Fund for Economic Uncertainties at the end of the 2008–09 fiscal year, not including the effect of the accrual of reimbursement warrants in subdivision (a) to offset expenditures in 2008–09.