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Section 11005.4 Of Chapter 5. Distribution Of Proceeds From California Revenue And Taxation Code >> Division 2. >> Part 5. >> Chapter 5.
11005.4
. Notwithstanding Section 11005, for the 1993-94 fiscal year
only, after payment of refunds therefrom and after making the
deductions authorized by Section 11003 and reserving the amount
determined necessary by the Pooled Money Investment Board to meet the
transfers ordered or proposed to be ordered pursuant to Section
16310 of the Government Code, the Controller shall, in addition to
making any allocations required by Section 11005, allocate, in
accordance with the procedures applicable to those moneys allocated
pursuant to subdivisions (c) and (d) of Section 11005, the amount of
one hundred thirty million dollars ($130,000,000) as follows:
(a) Ninety million dollars ($90,000,000) to cities in proportion to the total property tax revenue allocation reduction for each city as a result of Sections 97.02 and 97.035, as determined by the Director of Finance.
(b) Forty million dollars ($40,000,000) to counties and cities and counties in proportion to the total property tax revenue allocation reduction for each county or city and county as a result of Sections 97.02 and 97.035, as determined by the Director of Finance.
(a) Ninety million dollars ($90,000,000) to cities in proportion to the total property tax revenue allocation reduction for each city as a result of Sections 97.02 and 97.035, as determined by the Director of Finance.
(b) Forty million dollars ($40,000,000) to counties and cities and counties in proportion to the total property tax revenue allocation reduction for each county or city and county as a result of Sections 97.02 and 97.035, as determined by the Director of Finance.
