CHAPTER 11.8. California Debt Limit Allocation Committee [8869.80. - 8869.94.]
Chapter 11.8 repealed (by Sec. 1) and added by Stats. 1987, Ch. 943, Sec. 2.5.
§§ 8869.80–8869.94 · 15 sections
- § 8869.80 The Legislature hereby finds and declares all of the following: (a) The Tax Reform Act of 1986 (Public Law 99-514) establishes a volume ceiling on the…
- § 8869.81 This chapter is enacted to implement the state volume limit established in Section 1301 of the Federal Tax Reform Act of 1986 (Public Law 99-514), Sections…
- § 8869.82 (a) As used in this chapter, unless the context otherwise requires, the terms defined in this section shall have the following meanings: (1) “Committee” means…
- § 8869.83 (a) There is in state government the California Debt Limit Allocation Committee, consisting of six members as follows: (1) The Treasurer, or his or her…
- § 8869.84 (a) The committee shall, as soon as is practicable after the start of each calendar year, determine and announce the state ceiling for the calendar year. (b)…
- § 8869.85 (a) Each state agency shall apply to the committee for allocation of a portion of the state ceiling, supplying any information which the committee may require.…
- § 8869.86 (a) Subject to any limitations on transferred private activity bond limit as may be provided in subdivision (d) of Section 8869.85, any state agency or local…
- § 8869.87 The committee may request local agencies and state agencies to provide the committee with information pertaining to the amount and purpose of anticipated…
- § 8869.88 The committee may transfer any private activity bond limit directly to any joint powers authority created pursuant to Chapter 5(commencing with Section 6500)…
- § 8869.89 Notwithstanding any other provision of this chapter, the committee may, upon any terms and conditions as it determines, authorize the use of a portion of the…
- § 8869.90 (a) The committee may charge fees to the lead underwriter, the bond purchaser, or the bond issuer to cover the committee’s costs in carrying out the duties and…
- § 8869.91 This chapter is intended to provide a full, fair, flexible, and workable means of utilizing the state ceiling available under the Internal Revenue Code, and it…
- § 8869.92 To the extent that any provision of this chapter is held to be inconsistent with or repugnant to the federal law, the provision shall be given effect in…
- § 8869.93 The Treasurer, or his or her designee, is designated as the state official to certify that an issue of private activity bonds meets the requirements of Section…
- § 8869.94 (a) The committee may adopt, amend, or repeal rules and regulations pursuant to this chapter without complying with the procedural requirements of the…