Statutes, codes, and regulations
California Code Of Regulations
Title 4 - Business RegulationsDivision 11 - California Pollution Control Financing Authority
Article 3 - General Provisions Relating to Authority Actions
Section 8035 - Small Business Assistance Fund Fees

Cal. Code Regs. tit. 4 § 8035

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Current through Register 2025 Notice Reg. No. 2, January 10, 2025
Section 8035 - Small Business Assistance Fund Fees
(a) The Authority shall charge an applicant who is not a public agency or a small business as defined in Section 8020 a fee in addition to the fees required by Sections 8033 and 8034. The additional fee shall fund the Small Business Assistance Fund (SBAF). The amount of the fee shall be sixty-six one-hundredths of one percent (.0066) of the face value of any tax exempt bonds issued and three tenths of one percent (.003) of the face value of any taxable bonds issued; provided, that in connection with the issuance of taxable bonds for which the .003 fee is charged, if such taxable bonds are refinanced with or converted to tax exempt bonds, the applicant shall pay an additional fee for deposit into the Small Business Assistance Fund in the amount of thirty-six one-hundredths of one percent (.0036) of the face value of such taxable bonds. In the case of refunding or conversion of bonds, the fee percentage applicable on the date the original bonds were issued will be used to determine if additional SBAF fees are collectable. If the company did not pay a SBAF fee originally, the current fee percentage will apply to refundings or conversions. If federal tax law or other legal provisions prevent the imposition of the above fees, each fee shall be the maximum that can legally be charged.
(b) The Authority shall refund a portion of the fee charged pursuant to subdivision (a) of this section if the occurrence of a subsequent event causes the original fee to exceed the amount allowed by federal tax law provisions, causing the bonds to lose their tax exempt status. The refund shall be the difference between the original fee charged and the maximum fee subsequently determined to be chargeable by bond counsel approved by the Authority.
(c) The Authority shall refund a portion of the fee charged if, in the judgment of the Authority, the amount in the Small Business Assistance Fund account exceeds the amount needed to operate the Small Business Assistance Fund program and to assist small businesses obtain financing. If the Authority makes a refund pursuant to this subdivision, the amount of the refund payable to each applicant shall be computed by multiplying the total amount to be refunded by the percentage each applicant contributed in fees to the total fees collected pursuant to this section.
(d) If an applicant refinances existing bonds with the issuance of new bonds, it shall receive a credit against the fee charged pursuant to this section in an amount equal to the net Small Business Assistance Fund fees paid on the earlier bonds.
(e) The assessment of the fee provided for in subsection (a) is waived on all financing transactions closing on or before December 31, 2026.

Cal. Code Regs. Tit. 4, § 8035

1. New section filed 7-3-86; effective upon filing pursuant to Government Code section 11346.2(d) (Register 86, No. 27).
2. Amendment of subsection (a) filed 9-15-94; operative 9-15-94 pursuant to Government Code section 11346.2(d) (Register 94, No. 37).
3. Amendment of subsection (a) filed 9-10-96; operative 10-10-96 (Register 96, No. 37).
4. Amendment of subsection (a) filed 6-1-98 as an emergency; operative 6-1-98 (Register 98, No. 23). A Certificate of Compliance must be transmitted to OAL by 9-29-98 or emergency language will be repealed by operation of law on the following day.
5. Reinstatement of section as it existed prior to 6-1-98 emergency amendment by operation of Government Code section 11346.1(f) (Register 98, No. 52).
6. Amendment of subsection (a) filed 12-23-98; operative 12-23-98 pursuant to Government Code section 11343.4(d) (Register 98, No. 52).
7. Amendment of subsection (a) filed 10-27-2009 as an emergency; operative 10-27-2009 (Register 2009, No. 44). A Certificate of Compliance must be transmitted to OAL by 4-26-2010 or emergency language will be repealed by operation of law on the following day.
8. Reinstatement of section as it existed prior to 10-27-2009 emergency amendment by operation of Government Code section 11346.1(f) (Register 2010, No. 18).
9. Amendment of subsection (a) refiled 4-29-2010 as an emergency; operative 4-29-2010 (Register 2010, No. 18). A Certificate of Compliance must be transmitted to OAL by 7-28-2010 or emergency language will be repealed by operation of law on the following day.
10. Amendment of subsection (a) refiled 7-13-2010 as an emergency; operative 7-13-2010 (Register 2010, No. 29). A Certificate of Compliance must be transmitted to OAL by 10-11-2010 or emergency language will be repealed by operation of law on the following day.
11. Certificate of Compliance as to 7-13-2010 order transmitted to OAL 9-23-2010 and filed 11-4-2010 (Register 2010, No. 45).
12. Amendment of subsection (a) and NOTE filed 7-23-2012; operative 7-23-2012 pursuant to Government Code section 11343.4 (Register 2012, No. 30).
13. New subsection (e) filed 4-23-2013 as an emergency pursuant to Health and Safety Code section 44520(b); operative 4-23-2013 (Register 2013, No. 17). A Certificate of Compliance must be transmitted to OAL by 10-21-2013 or emergency language will be repealed by operation of Health and Safety Code section 44520(b) on the following day.
14. Certificate of Compliance as to 4-23-2013 order transmitted to OAL 8-21-2013 and filed 9-24-2013 (Register 2013, No. 39).
15. Amendment of subsections (e) and (f) filed 5-4-2015 as an emergency; operative 5-4-2015 (Register 2015, No. 19). A Certificate of Compliance must be transmitted to OAL by 11-2-2015 or emergency language will be repealed by operation of law on the following day.
16. Certificate of Compliance as to 5-4-2015 order transmitted to OAL 9-16-2015 and filed 10-27-2015 (Register 2015, No. 44).
17. Amendment of subsections (e) and (f) filed 6-29-2016 as an emergency; operative 6-29-2016 (Register 2016, No. 27). A Certificate of Compliance must be transmitted to OAL by 12-27-2016 or emergency language will be repealed by operation of law on the following day.
18. Certificate of Compliance as to 6-29-2016 order transmitted to OAL 11-22-2016 and filed 1-9-2017 (Register 2017, No. 2).
19. Amendment of subsection (e) and repealer of subsection (f) filed 3-3-2023; operative 7-1-2023 (Register 2023, No. 9).

Note: Authority cited: Sections 44520 and 44548, Health and Safety Code. Reference: Section 44548, Health and Safety Code.

1. New section filed 7-3-86; effective upon filing pursuant to Government Code section 11346.2(d) (Register 86, No. 27).
2. Amendment of subsection (a) filed 9-15-94; operative 9-15-94 pursuant to Government Code section 11346.2(d) (Register 94, No. 37).
3. Amendment of subsection (a) filed 9-10-96; operative 10-10-96 (Register 96, No. 37).
4. Amendment of subsection (a) filed 6-1-98 as an emergency; operative 6-1-98 (Register 98, No. 23). A Certificate of Compliance must be transmitted to OAL by 9-29-98 or emergency language will be repealed by operation of law on the following day.
5. Reinstatement of section as it existed prior to 6-1-98 emergency amendment by operation of Government Code section 11346.1(f) (Register 98, No. 52).
6. Amendment of subsection (a) filed 12-23-98; operative 12-23-98 pursuant to Government Code section 11343.4(d) (Register 98, No. 52).
7. Amendment of subsection (a) filed 10-27-2009 as an emergency; operative 10-27-2009 (Register 2009, No. 44). A Certificate of Compliance must be transmitted to OAL by 4-26-2010 or emergency language will be repealed by operation of law on the following day.
8. Reinstatement of section as it existed prior to 10-27-2009 emergency amendment by operation of Government Code section 11346.1(f) (Register 2010, No. 18).
9. Amendment of subsection (a) refiled 4-29-2010 as an emergency; operative 4-29-2010 (Register 2010, No. 18). A Certificate of Compliance must be transmitted to OAL by 7-28-2010 or emergency language will be repealed by operation of law on the following day.
10. Amendment of subsection (a) refiled 7-13-2010 as an emergency; operative 7-13-2010 (Register 2010, No. 29). A Certificate of Compliance must be transmitted to OAL by 10-11-2010 or emergency language will be repealed by operation of law on the following day.
11. Certificate of Compliance as to 7-13-2010 order transmitted to OAL 9-23-2010 and filed 11-4-2010 (Register 2010, No. 45).
12. Amendment of subsection (a) and Note filed 7-23-2012; operative 7-23-2012 pursuant to Government Code section 11343.4 (Register 2012, No. 30).
13. New subsection (e) filed 4-23-2013 as an emergency pursuant to Health and Safety Code section 44520(b); operative 4-23-2013 (Register 2013, No. 17). A Certificate of Compliance must be transmitted to OAL by 10-21-2013 or emergency language will be repealed by operation of Health and Safety Code section 44520(b) on the following day.
14. Certificate of Compliance as to 4-23-2013 order transmitted to OAL 8-21-2013 and filed 9-24-2013 (Register 2013, No. 39).
15. Amendment of subsections (e) and (f) filed 5-4-2015 as an emergency; operative 5/4/2015 (Register 2015, No. 19). A Certificate of Compliance must be transmitted to OAL by 11-2-2015 or emergency language will be repealed by operation of law on the following day.
16. Certificate of Compliance as to 5-4-2015 order transmitted to OAL 9-16-2015 and filed 10/27/2015 (Register 2015, No. 44).
17. Amendment of subsections (e) and (f) filed 6-29-2016 as an emergency; operative 6/29/2016 (Register 2016, No. 27). A Certificate of Compliance must be transmitted to OAL by 12-27-2016 or emergency language will be repealed by operation of law on the following day.
18. Certificate of Compliance as to 6-29-2016 order transmitted to OAL 11-22-2016 and filed 1-9-2017 (Register 2017, No. 2).
19. Amendment of subsection (e) and repealer of subsection (f) filed 3-3-2023; operative 7/1/2023 (Register 2023, No. 9).