Repealed (in Sec. 113) and added by Stats. 2014, Ch. 35, Sec. 114. (SB 861) Effective June 20, 2014. Section operative July 1, 2014, by its own provisions.
(a)To the extent permitted by federal and state law, moneys in the fund may be expended to rebate to the federal government all arbitrage profits required by the federal Tax Reform Act of 1986 (Public Law 99-514) or any amendment of or supplement to that law. To the extent that this expenditure of the moneys in the fund is prohibited by federal or state law, any rebates required by federal law shall be paid from the General Fund or other sources, upon appropriation by the Legislature.
(b)Notwithstanding any other law or regulation, the board may enter into contracts or may procure those services and equipment that may be necessary to ensure prompt and complete compliance with any provisions
relating to the fund imposed by either the federal Tax Reform Act of 1986 (Public Law 99-514) or the federal Safe Drinking Water Act.
(c)This section shall become operative on July 1, 2014.
Cite this section
Other sections in Article 7 - Safe Drinking Water State Revolving Fund Management