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HomeHealth and Safety CodeDiv. 31Pt. 16Ch. 3§ 54018 Bond Payment Revenue Collection

§ 54018 Bond Payment Revenue Collection

Health and Safety Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 54018 Bond Payment Revenue Collection

Key Takeaways

  • •The state must collect extra money every year to pay back its loans (bonds) and the interest on them.
  • •This extra money is collected the same way and at the same time as other state taxes.
  • •State workers who collect taxes must make sure this extra money is collected.

Example

Imagine you take out a loan to buy a house. Every month, you have to pay back part of that loan plus extra money (interest).

The state does the same thing. It borrows money by selling bonds, and then it has to pay that money back with interest. To do this, the state collects extra taxes every year, just like you pay your monthly loan payment.

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

Official Source
View on CA.gov

§ 54018 Bond Payment Revenue Collection

There shall be collected annually, in the same manner and at the same time as other state revenue is collected, a sum of money in addition to the ordinary revenues of the state, sufficient 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 collections of state revenues to do or perform each and every act which is necessary to collect that additional sum. (Added by Stats. 2017, Ch. 365, Sec. 3. Approved in Proposition 1 at the November 6, 2018, election; effective November 7, 2018.)

Last verified: January 24, 2026

Key Terms

dutyadditionpropositionelection

Related Statutes

  • § 53526 Bond Principal And Interest Collection
  • § 52530 State Bond Payment Obligations
  • § 13826 Ballot Pamphlet Requirements
  • § 32205 Hospital District Formation Election
  • § 32242 Special Assessment Election Resolution

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Health and Safety Code. Section 54018.
View Official Source