Gov. Code, § 16418.7 · Article 7.6.3. Projected Surplus Temporary Holding Account
Gov. Code, § 16418.7
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) The Projected Surplus Temporary Holding Account is hereby established in the State Treasury as a General Fund reserve to hold a portion of General Fund surplus moneys temporarily for use in future fiscal years, as an added responsible budgeting technique to counter tax revenue volatility.
(b) In a year that a transfer is made to the Projected Surplus Temporary Holding Account, the transfer shall be provided for in the annual Budget Act.
(c) Funds transferred to the Projected Surplus Temporary Holding Account pursuant to subdivision (b), including any interest or investment earnings derived therefrom, shall remain in that account for no more than one year from the date of deposit, after which time these funds shall be transferred to the General Fund unless the next annual Budget Act appropriates all or part of those moneys for other state purposes.
(d) Notwithstanding any other law, the Controller may use the funds in the Projected Surplus Temporary Holding Account for cashflow loans to the General Fund as provided in Sections 16310 and 16381.
Notes and commentary — not statutory text
History
Amended by Stats. 2026, Ch. 84, Sec. 16. (SB 172) Effective July 13, 2026.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=16418.7.
- Text hash
- sha256 03bd5cea279dacf0cbe70a5561d5e537484f9dea3862be31049cd3388001d052
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.