§ 17600 Local Revenue Fund Accounts

Key Takeaways

•The law creates a big money pot called the Local Revenue Fund, split into different accounts like Sales Tax and Vehicle License Fees.
•Each account has smaller pots (subaccounts) for things like mental health, social services, and health programs.
•The money in this fund is always available to be used, no matter the year, and any extra money made from investments gets shared fairly among the smaller pots.
•This rule started on August 1, 2015.

Example

Imagine your town collects money from sales tax when you buy toys or clothes.

Some of that money goes into the Local Revenue Fund. A part of it might then go to the Health Subaccount to help pay for doctors or hospitals in your town.

(a) There is hereby created the Local Revenue Fund, which shall consist of the following accounts: (1) The Sales Tax Account. (2) The Vehicle License Fee Account. (3) The Vehicle License Collection Account. (4) The Sales Tax Growth Account. (5) The Vehicle License Fee Growth Account. (b) The Sales Tax Account shall have all of the following subaccounts: (1) The Mental Health Subaccount. (2) The Social Services Subaccount. (3) The Health Subaccount. (4) The CalWORKs Maintenance of Effort Subaccount. (5) The Family Support Subaccount. (6) The Child Poverty and Family Supplemental Support Subaccount. (7) The County Medical Services Program Subaccount. (c) The Vehicle License Fee Account shall have all of the following subaccounts: (1) The Mental Health Subaccount. (2) The Social Services Subaccount. (3) The Health Subaccount. (4) The CalWORKs Maintenance of Effort Subaccount. (5) The Family Support Subaccount. (6) The Child Poverty and Family Supplemental Support Subaccount. (7) The County Medical Services Program Subaccount. (d) The Sales Tax Growth Account shall have all of the following subaccounts: (1) The Caseload Subaccount. (2) The County Medical Services Program Growth Subaccount. (3) The General Growth Subaccount. (e) The Vehicle License Fee Growth Account shall have all of the following subaccounts: (1) The County Medical Services Program Growth Subaccount. (2) The General Growth Subaccount. (f) Notwithstanding Section 13340 of the Government Code, the Local Revenue Fund is hereby continuously appropriated, without regard to fiscal years, for the purpose of this chapter. (g) Moneys in the Local Revenue Fund shall be invested in the Surplus Money Investment Fund and all interest earned shall be distributed in January and July among the accounts and subaccounts in proportion to the amounts deposited into each subaccount. (h) This section shall be operative on August 1, 2015. (Repealed (in Sec. 30) and added by Stats. 2015, Ch. 20, Sec. 31. (SB 79) Effective June 24, 2015. Section operative August 1, 2015, by its own provisions.)

Key Takeaways

•The law creates a big money pot called the Local Revenue Fund, split into different accounts like Sales Tax and Vehicle License Fees.
•Each account has smaller pots (subaccounts) for things like mental health, social services, and health programs.
•The money in this fund is always available to be used, no matter the year, and any extra money made from investments gets shared fairly among the smaller pots.
•This rule started on August 1, 2015.

Example

Imagine your town collects money from sales tax when you buy toys or clothes.

Some of that money goes into the Local Revenue Fund. A part of it might then go to the Health Subaccount to help pay for doctors or hospitals in your town.

Key Takeaways

Example

Key Terms

References

§ 17600 Local Revenue Fund Accounts

Key Takeaways

Example

Key Terms

References

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References