Section 6750 - State Transit Assistance Fund(a) Each regional entity shall create a state transit assistance fund and shall deposit in such fund all moneys allocated and transmitted to it by the State Controller pursuant to Sections 99313 and 99314 of the Public Utilities Code.(b) The state transit assistance fund shall be established as a trust fund in the county treasury. In the case of a multicounty regional entity, the regional entity's former designation of a county treasurer to be the depositary of the state transit assistance fund shall not be changed without the agreement of the State Controller.(c) The regional entity shall arrange with the county treasurer for investment of moneys in the state transit assistance fund at the highest rate of return consistent with prudent fund management and the need to permit disbursement of funds allocated to claimants.(d) Any interest or other income earned by investment of the state transit assistance fund shall accrue to and be a part of the fund. Interest earned during a fiscal year shall be treated in the same manner as funds allocated to the regional entity by the State Controller during that fiscal year.(e) The state transit assistance fund shall not be commingled with the local transportation fund, nor with planning subventions from the Account, nor with any other revenues or funds of the regional entity or of any city, county, or operator. Where there are two regional entities in the same county, their state transit assistance funds shall not be commingled with each other.Cal. Code Regs. Tit. 21, § 6750
1. Amendment filed 6-21-84; effective thirtieth day thereafter (Register 84, No. 25).
2. Amendment filed 12-31-85; effective thirtieth day thereafter (Register 86, No. 1).
3. Amendment of subsections (a), (b) and (d) filed 9-1-87; operative 10-1-87 (Register 87, No. 37). Note: Authority cited: Section 99241, Public Utilities Code. Reference: Sections 99313, 99313.6 and 99314, Public Utilities Code; and Section 16304, Government Code.
1. Amendment filed 6-21-84; effective thirtieth day thereafter (Register 84, No. 25).
2. Amendment filed 12-31-85; effective thirtieth day thereafter (Register 86, No. 1).
3. Amendment of subsections (a), (b) and (d) filed 9-1-87; operative 10-1-87 (Register 87, No. 37).