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Article 3. Oasi Revolving Fund of California Government Code >> Division 5. >> Title 2. >> Part 4. >> Chapter 3. >> Article 3.
The Old Age and Survivors' Insurance Revolving Fund is
continued in existence. Notwithstanding Section 13340, all money in
the revolving fund is appropriated without regard to fiscal years to
the board to carry out the provisions of this part.
The Old Age and Survivors' Insurance Revolving Fund may be
used by the board for the following purposes and for any other
purposes necessary to carry out the provisions of this part:
(1) To reimburse any appropriation available for the support of the board or of any state office or agency designated by the board to assist in the administration of the provisions of this part.
(2) To advance on behalf of any public agency or agencies any part or all of the contributions required to be paid by them pursuant to Sections 22553, 22554 and 22555 of this code.
(3) To advance on behalf of any public agency or agencies any sums of money the State may be obligated to pay or forfeit to the Federal Government from and after October 30, 1950, by reason of any failure of any such public agency or agencies for any cause or reason to pay the contributions, penalties or interest required by the agreement and federal regulations adopted pursuant thereto at such times and in such amounts as required by the agreement and the said federal regulations.
(4) To make refunds to any public agency or agencies of contributions, penalties, interest, reimbursements, or other amounts received from any such public agency or agencies as overpayments or paid by them in error.
(5) To make any and all payments which the State may be required to make to the Federal Government pursuant to the agreement and federal regulations adopted pursuant thereto.
(1) To reimburse any appropriation available for the support of the board or of any state office or agency designated by the board to assist in the administration of the provisions of this part.
(2) To advance on behalf of any public agency or agencies any part or all of the contributions required to be paid by them pursuant to Sections 22553, 22554 and 22555 of this code.
(3) To advance on behalf of any public agency or agencies any sums of money the State may be obligated to pay or forfeit to the Federal Government from and after October 30, 1950, by reason of any failure of any such public agency or agencies for any cause or reason to pay the contributions, penalties or interest required by the agreement and federal regulations adopted pursuant thereto at such times and in such amounts as required by the agreement and the said federal regulations.
(4) To make refunds to any public agency or agencies of contributions, penalties, interest, reimbursements, or other amounts received from any such public agency or agencies as overpayments or paid by them in error.
(5) To make any and all payments which the State may be required to make to the Federal Government pursuant to the agreement and federal regulations adopted pursuant thereto.
With the exception of penalties and interest as provided by
Sections 22551 and 22556, any and all moneys received by the board
from public agencies under the provisions of this part may be
deposited in such revolving fund.
Deficiencies or excesses occurring in the Old Age and
Survivors' Insurance Revolving Fund by reason of differences of a
fraction of a cent in contributions or other amounts paid by a public
agency under the provisions of this part shall be offset
proportionately against the charges or assessments for administrative
costs provided by Section 22551. Such offsets shall be applied
annually by transfer between the said revolving fund and the
appropriation available for the support of the board and upon request
of the board the State Controller shall make such transfers.
