Funding for startup and first-year administrative costs may be appropriated from the General Fund in the annual Budget Act. The board shall repay the amount appropriated, plus interest calculated at the rate earned by the Pooled Money Investment Account. Necessary administrative costs in future years shall be paid out of the administrative fund.
(Added by Stats. 2016, Ch. 804, Sec. 19. (SB 1234) Effective January 1, 2017.)