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HomeEducation CodeDiv. 14Pt. 72Ch. 3Art. 3§ 101445 Bond Payment Revenue Collection

§ 101445 Bond Payment Revenue Collection

Education Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 101445 Bond Payment Revenue Collection

This law says the state must collect an extra amount of money every year, just like other taxes, to pay back the principal and interest on its bonds, and the officials in charge must do everything needed to get that money.

Key Takeaways

  • •An extra yearly sum must be collected for bond payments.
  • •The extra sum is collected the same way and at the same time as other state taxes.
  • •All officials who collect state revenue must do whatever is needed to get this extra money.

Example

The state issued bonds to build a new highway and now has to pay back the loan plus interest each year.

Because of this law, the state will add a special yearly charge to its regular tax collection to make sure there’s enough money to cover the bond payments, and the tax officials must make sure that charge is collected.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 101445 Bond Payment Revenue Collection

There shall be collected each year and in the same manner and at the same time as other state revenue is collected, in addition to the ordinary revenues of the state, a sum in an amount required to pay the principal of, and interest on, the bonds each year. It is the duty of all officers charged by law with any duty in regard to the collection of the revenue to do and perform each and every act that is necessary to collect that additional sum. (Added by Stats. 2024, Ch. 81, Sec. 28. (AB 247) Approved in Proposition 2 at the November 5, 2024, election. Effective November 6, 2024.)

Last verified: January 10, 2026

Key Terms

principalinterestbondsadditional sumrevenue collection

Related Statutes

  • § 101145.5 Bond Repayment Revenue Collection
  • § 100525 Bond Principal And Interest Collection
  • § 100925 Bond Principal And Interest Collection
  • § 101035.5 Bond Principal And Interest Collection
  • § 100725 Bond Payment Revenue Collection

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Education Code. Section 101445.
View Official Source