Pub. Resources Code, § 42023.3 · Article 3. Market Development Zone Program
Pub. Resources Code, § 42023.3
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) All money remaining in the subaccount on July 1, 2031, and all money received as repayment and interest on loans shall, as of July 1, 2031, be transferred to the account and any money due and outstanding on loans as of July 1, 2031, shall be repaid to the department and deposited by the department in the account until paid in full, except that, upon authorization by the Legislature in the annual Budget Act, interest earnings may be expended for administrative costs associated with the collection of outstanding loan accounts.
(b) (1) Except as provided in paragraph (2), this section shall become inoperative on July 1, 2031, and as of January 1, 2032, is repealed, unless a later enacted statute, which becomes effective on or before January 1, 2032, deletes or extends the dates on which it becomes inoperative and is repealed.
(2) The repeal of this section pursuant to paragraph (1) shall not extinguish any loan obligation or the authority of the state to pursue appropriate actions for the collection of a loan.
Notes and commentary — not statutory text
History
Amended by Stats. 2019, Ch. 690, Sec. 10. (AB 1583) Effective January 1, 2020. Inoperative July 1, 2031. Repealed as of January 1, 2032, by its own provisions.
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=PRC§ionNum=42023.3.
- Text hash
- sha256 b666248b79ac5d1a996cae486316b08f43983427b65f6bf5f3668ad6baf6229e
- 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
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