Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2015
Use Fuel Tax Law
CHAPTER 2. IMPOSITION OF TAX.
8655.5. Exemptions; transfers to the Highway Users Tax Account. (a) Commencing with the 1984–85 fiscal year, the Controller shall annually transfer from the General Fund to the Highway Users Tax Account in the Transportation Tax Fund, the amount, as determined by the State Board of Equalization, necessary to fully reimburse the account for any revenue loss caused by the exemptions provided by paragraphs (5) and (6) of subdivision (b) of Section 8655.
(b) In addition, the Controller shall transfer, on January 1, 1985, the sum of four hundred thirty-five thousand dollars ($435,000) from the General Fund to the account to fully reimburse the account for the revenue loss caused by Section 3 of the act enacting this section.
History.—Added by Stats. 1984, Ch. 1663, effective September 30, 1984, operative October 1, 1984.
Note.—See note following Section 8655.