Cal. Welf. and Inst. Code § 14718.5

Current through the 2023 Legislative Session.
Section 14718.5 - Money in Mental Health Managed Care Deposit Fund used for loans to General Fund

Notwithstanding any other law, including subdivision (b) of Section 16310 of the Government Code, the Controller may use the moneys in the Mental Health Managed Care Deposit Fund for loans to the General Fund as provided in Sections 16310 and 16381 of the Government Code. Interest shall be paid on all moneys loaned to the General Fund from the Mental Health Managed Care Deposit Fund. Interest payable shall be computed at a rate determined by the Pooled Money Investment Board to be the current earning rate of the fund from which loaned. This subdivision does not authorize any transfer that will interfere with the carrying out of the object for which the Mental Health Managed Care Deposit Fund was created.

Ca. Welf. and Inst. Code § 14718.5

Renumbered from Ca. Welf. and Inst. Code §5778.3 and amended by Stats 2012 ch 34 (SB 1009),s 180, eff. 6/27/2012.