CHAPTER 15.5. Vanpool Financing [2570. - 2580.]

Chapter 15.5 added by Stats. 1989, Ch. 799, Sec. 2.

§§ 2570–2580 · 11 sections

• § 2570 For purposes of this chapter, the following terms have the meanings given in this section: (a) “Vanpool operator” means any person who files an application and…
• § 2571 The Ridesharing Vanpool Revolving Loan and Grant Fund is hereby created in the State Treasury. The fund shall be administered by the department for purposes of…
• § 2572 Any person may submit an application to the department for a loan from the fund to purchase a vanpool vehicle for operation by the person as a vanpool…
• § 2573 The department shall charge a rate of interest for loans made under this chapter reasonably calculated to ultimately keep the fund at a constant level and in…
• § 2574 The vanpool grant program shall be administered by the department. From funds appropriated to the department for the purpose, the department shall make grants…
• § 2575 (a) Any person may submit an application to the department for a grant of not more than 70 percent of the cost to purchase or lease a new vanpool vehicle or…
• § 2576 A vanpool operator who receives a lease grant shall operate the vanpool vehicle as a vanpool for the duration of the lease. The vanpool operator’s failure to…
• § 2577 All money received by the department under this chapter shall be deposited in the Ridesharing Vanpool Revolving Loan and Grant Fund.
• § 2578 (a) The department shall adopt guidelines for the making of loans and for the purchase and lease of vanpool vehicles. The guidelines shall, in the case of…
• § 2579 A vanpool operator is not eligible for any California income tax deduction or credit applicable to vanpooling with respect to the amount of any grant under…
• § 2580 (a) The Department of Transportation may make loans to other state agencies for the purpose of purchasing vanpool vehicles, as defined by subdivision (b) of…