California § 569.5 - There is hereby created the Climate Smart Agriculture Account in the Department o

§ 569.5. There is hereby created the Climate Smart Agriculture Account in the Department o

(a) There is hereby created the Climate Smart Agriculture Account in the Department of Food and Agriculture Fund, which shall consist of moneys made available from federal, state, industry, philanthropic, and private sources. (b) Notwithstanding Section 13340 of the Government Code, the Climate Smart Agriculture Account is hereby continuously appropriated without regard to fiscal years to the department to carry out the purposes of this article. (c) Notwithstanding any other law, the Controller may use the moneys in the Climate Smart Agriculture Account for cash flow loans to the General Fund as provided in Sections 16310 and 16381 of the Government Code. Any such loan shall be exempt from paragraph (2) of subdivision (b) of Section 16310 of the Government Code. Interest shall be paid on all moneys loaned to the General Fund and shall be computed at a rate determined by the Pooled Money Investment Board to be the current earning rate of the account. This subdivision shall not authorize any transfer that would interfere with the carrying out of the object for which the account was created. (d) (1) For any fiscal year in which moneys are received into or expended from the Climate Smart Agriculture Account, the department, no later than January 10 following the close of the fiscal year, shall submit to the Legislature an overview of the account’s income and expenditures. (2) An overview to be submitted pursuant to this subdivision shall be submitted in compliance with Section 9795 of the Government Code.