Cal. Gov. Code § 16494
Current through the 2023 Legislative Session.
The amount of any loan shall not exceed 50 percent of the local agency's property tax revenues for the 1977-78 fiscal year, including state property tax relief subventions. The maximum amount of a loan to a local agency which was formed during the 1977-78 fiscal year and authorized to levy a property tax, but did not do so, shall be no more than 50 percent of the amount such agency could have levied if it had levied such a tax.
Ca. Gov. Code § 16494