§ 2650 Bond Proceeds Tax Exemption

Fish and Game Code·California

AI SummaryVerified

This law says that money from bond sales doesn't count as tax money, so the state can spend it without following the special rules that normally limit how tax money can be used.

Key Takeaways

•Bond sale proceeds are not treated as tax revenue.
•The state can spend bond money without the usual constitutional limits.
•This applies to any project funded by authorized bonds.

Example

A city issues bonds to pay for a new library and uses the bond money to build it.

Because the bond proceeds aren't considered tax proceeds, the city can use the funds for the library even though other tax money would be restricted by the state constitution.

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

Official Source

View on CA.gov

§ 2650 Bond Proceeds Tax Exemption

The Legislature hereby finds and declares that, inasmuch as the proceeds from the sale of bonds authorized by this chapter are not “proceeds of taxes” as that term is used in Article XIII B of the California Constitution, the disbursement of these proceeds is not subject to the limitations imposed by that article. (Added by Stats. 1984, Ch. 6, Sec. 1. Approved in Proposition 19 at the June 5, 1984, election. Operative July 1, 1984, by Stats. 1984, Ch. 6, Sec. 3.)

Last verified: January 10, 2026

Key Terms

proceeds of taxes Article XIII B California Constitution Proposition 19

References

Official text at leginfo.legislature.ca.gov
California Legislature. Fish and Game Code. Section 2650.

Key Takeaways

Example

Key Terms

Related Statutes

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Key Takeaways

Example

Key Terms

Related Statutes

References