V C Section 42272 Transfer of Balance: General Fund

Transfer of Balance: General Fund

42272.  For the 2012–13 fiscal year, upon order of the Director of Finance, the Controller shall transfer four hundred thirty–two million two hundred thousand dollars ($432,200,000) from the Motor Vehicle Account to the General Fund as a loan, provided that the loan shall be repaid. The Director of Finance shall order the repayment by the Controller of that four hundred thirty–two million two hundred thousand dollars ($432,200,000) to the Motor Vehicle Account no later than June 30, 2016.

Added Sec. 8, Ch. 22, Stats. 2012. Effective June 27, 2012.