(a) An amount not to exceed four million dollars ($4,000,000) shall, upon appropriation in the annual Budget Act, be transferred from the Harbors and Watercraft Revolving Fund to the Vessel Operator Certification Account in the form of a loan to be used by the division to develop and establish the program under this article.
(b) The division shall repay the loan described in subdivision (a) from fees received pursuant to Section 678.3 within eight years of the effective date of this article.
(c) If the division has not repaid the loan within the time period specified in subdivision (b), the division shall notify the Joint Legislative Budget Committee.
(d) The loan shall not impair the intended expenditure purposes of the Harbors and Watercraft Revolving Fund.
(Added by Stats. 2014, Ch. 433, Sec. 1. (SB 941) Effective January 1, 2015.)