California § 16418.7 - The Projected Surplus Temporary Holding Account is hereby established in the Stat
Full text of California Public Contract Code - PCC § 16418.7 — The Projected Surplus Temporary Holding Account is hereby established in the Stat, with citation guidance and answers to common questions.
§ 16418.7. The Projected Surplus Temporary Holding Account is hereby established in the Stat
(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.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 16418.7
What does Public Contract Code - PCC § 16418.7 cover?
Section 16418.7 ("The Projected Surplus Temporary Holding Account is hereby established in the Stat") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 16418.7?
A common citation format is "Public Contract Code - PCC § 16418.7" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 16418.7 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.