Section 8351 Of Chapter 10. Distribution Of Proceeds From California Revenue And Taxation Code >> Division 2. >> Part 2. >> Chapter 10.
8351
. The Controller shall transmit all money received by him or
her in payment of taxes, interest, and penalties due under this part,
and restitution orders or any other amounts otherwise authorized by
law to be collected by the Controller, or any other amounts imposed
by a court of competent jurisdiction to be paid to the Controller, to
the State Treasurer who shall deposit it in the State Treasury and
credit it to the Motor Vehicle Fuel Fund, which is continued in
existence as the Motor Vehicle Fuel Account in the Transportation Tax
Fund, which fund is hereby created. All fees paid and accepted for
issuance or reinstatement of licenses under this part shall be
deposited by the board in the State Treasury to the credit of the
same account.
Any reference in any law or regulation to the Motor Vehicle Fuel
Fund shall be deemed to refer to the Motor Vehicle Fuel Account in
the Transportation Tax Fund.
Notwithstanding any other provision of law, the Controller may use
the funds in the Motor Vehicle Fuel Account in the Transportation
Tax Fund for cashflow loans to the General Fund as provided in
Sections 16310 and 16381 of the Government Code. Any such loan shall
be exempt from paragraph (2) of subdivision (b) of Section 16310 of
the Government Code. Interest shall be paid on all moneys loaned to
the General Fund and shall be computed at a rate determined by the
Pooled Money Investment Board to be the current earning rate of the
fund from which the money is loaned. This subdivision does not
authorize any transfer that would interfere with the carrying out of
the object for which these funds were created.