Section 183.3 Of Article 5. Funds For Highway And Public Mass Transit Guideway Purposes From California Streets And Highways Code >> Division 1. >> Chapter 1. >> Article 5.
183.3
. (a) Upon the order of the Director of Finance, the
Controller shall transfer the sum of one hundred seventy-three
million dollars ($173,000,000) from the State Highway Account in the
State Transportation Fund to the General Fund. This transfer of money
constitutes a loan under paragraph (2) of subdivision (b) of Section
6 of Article XIX of the California Constitution.
(b) The General Fund shall pay interest to the State Highway
Account on the loan authorized by subdivision (a) at the rate earned
by the Surplus Money Investment Fund. The interest shall be
calculated annually and the loan shall be repaid no later than June
30, 2005.