AB 2480

Bill Subjects

Abstract

Existing law required, during the period on or after July 1, 2004, but before July 1, 2011, the moneys in the Motor Vehicle License Fee Account in the Transportation Tax Fund that remain unexpended at the close of business on the last day of each calendar month to be allocated by the Controller by the 10th day of the following month to cities and counties, including an amount determined by a specified formula to each city that was incorporated before August 5, 2004. This bill would, beginning on January 10, 2015, and on the 10th of each month thereafter, require the Controller to pay to each city that incorporated before August 5, 2004, an amount equal to an amount determined by that specified formula. This bill would continuously appropriate to the Controller an amount sufficient to make those payments from the General Fund.