(a) The amount estimated to be available for infrastructure pursuant to subdivision (e) of Section 20 of Article XVI of the California Constitution shall be appropriated by the Legislature in the annual budget process. Upon the order of the department, the Controller shall transfer the amount from the General Fund to the Infrastructure Stabilization Fund created in Section 13106.
(b) In the event the initial estimated amount for a fiscal year as described in subdivision (a) is greater than the final updated amount as determined by subdivisions (b) and (e) of Section 20 of Article XVI of the California Constitution, the excess shall be credited towards the infrastructure amounts in one or more subsequent fiscal years.
(c) In the event the initial estimated amount for a fiscal year as described in subdivision (a) is less than the final updated amount as determined by subdivisions (b) and (e) of Section 20 of Article XVI of the California Constitution, upon appropriation by the Legislature and upon the order of the department, the Controller shall transfer the remaining amount from the General Fund to the Infrastructure Stabilization Fund.
(d) This section applies to the infrastructure amounts attributable to the 2019–20 to the 2021–22 fiscal year, inclusive, pursuant to subdivision (e) of Section 20 of Article XVI of the California Constitution. Pursuant to subdivision (b) of Section 20 of Article XVI of the California Constitution, the updates of the amount for each relevant fiscal year will be made in the two subsequent fiscal years.
(e) Consistent with Section 20 of Article XVI of the California Constitution, the department shall perform the estimates and calculations in this section.
(Added by Stats. 2018, Ch. 43, Sec. 3. (AB 1831) Effective June 27, 2018.)