§ 51511 Fund Transfer After Termination

Key Takeaways

•This law stopped working on July 1, 2016.
•Any leftover money from this law goes to help people buy homes.
•The money is automatically given to the agency in charge of home buying help.

Example

Imagine there was a piggy bank for a special program that ended.

After the program ended, any money left in the piggy bank was moved to another piggy bank that helps people buy houses.

(a) This chapter, except for this section, shall not be operative on and after July 1, 2016. (b) On and after July 1, 2016, any unobligated amounts remaining in any fund established for the purposes of this chapter, including the repayment of disbursed moneys, or any interest earned from the investment of those moneys or any other moneys accruing to the fund from any source, shall be transferred to the Home Purchase Assistance Fund and are continuously appropriated to the agency for the purposes described in Section 51342. (Added by Stats. 2016, Ch. 32, Sec. 82. (SB 837) Effective June 27, 2016. Note: Termination clause affects Chapter 11, commencing with Section 51500, except for this section.)

Key Takeaways

•This law stopped working on July 1, 2016.
•Any leftover money from this law goes to help people buy homes.
•The money is automatically given to the agency in charge of home buying help.

Example

Imagine there was a piggy bank for a special program that ended.

After the program ended, any money left in the piggy bank was moved to another piggy bank that helps people buy houses.

Key Takeaways

Example

Key Terms

References

§ 51511 Fund Transfer After Termination

Key Takeaways

Example

Key Terms

References

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References