Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2011
 

Revenue and Taxation Code

Division 2. Other Taxes

Part 18.5. Timber Yield Tax

Chapter 10. Disposition of Proceeds

Section 38904

38904. Appropriations from timber tax fund. The money in the Timber Tax Fund is appropriated as follows:

(a) To reimburse the General Fund for funds advanced for costs incurred by the board in administration of this part as follows:

(1) Four hundred sixty-seven thousand nine hundred thirty dollars ($467,930) for fiscal years 1975–76 and 1976–77.

(2) Amounts identified and approved in subsequent fiscal years as approved in the Budget Bill. One-half of this amount shall be reimbursed to the General Fund between November 1 and November 10, and the remaining one-half between May 1 and May 10. In the event that not all funds approved in the Budget Bill are actually expended by the board, then in the succeeding fiscal year, the amount to be reimbursed to the General Fund between November 1 and November 10 shall be reduced by an amount equal to the unexpended appropriation of the preceding fiscal year.

(b) To reimburse the General Fund for funds advanced for costs incurred by the State Forester in administration of Section 4582.8 of the Public Resources Code as follows:

(1) Thirteen thousand five hundred dollars ($13,500) for fiscal years 1975–76 and 1976–77.

(2) Amounts identified and approved in subsequent fiscal years as approved in the Budget Bill.

(c) To the Controller to allocate pursuant to Sections 38905 and 38905.1.

(d) To pay refunds authorized by this part of taxes imposed pursuant to Section 38115 and interest, penalties, and other amounts paid or collected pursuant to this part and deposited in the Timber Tax Fund.

History.—Stats. 1977, Ch. 853, in effect September 17, 1977, substituted "allocate" for "allocated" in subdivision (c) and added subdivision (d). Stats. 1978, Ch. 1109, in effect September 26, 1978; substituted "four hundred sixty-seven thousand nine hundred thirty dollars ($467,930)" for "five hundred twenty-nine thousand eight hundred fourteen dollars ($529,814)" in subsection (a)(1); substituted "Budget Bill" for "normal budget process" in the first sentence and added the second sentence of subsection (a)(2); substituted "years" for "year" in subsection (b)(1); and substituted "in" for "if" and "Budget Bill" for "normal budget process" in subsection (b)(2). Stats. 1982, Ch. 1058, in effect January 1, 1983, substituted "Sections 38905 and 38905.1" for "Section 38905" after "pursuant to" in subdivision (c). Stats. 1997, Ch. 940 (SB 1105), in effect January 1, 1998, substituted "between November 1 and November 10," for "on November 30" after "General Fund", substituted "between May 1 and May 10" for "on May 31" after "remaining one-half" in the second sentence, and substituted "between November 1 and November 10," for "on November 30" after "General Fund" in the third sentence of paragraph (2) of subdivision (a).