63048.100. (a) Notwithstanding Chapter 2 (commencing with Section 12850) of Part 2.5 of Division 3 of Title 2 and Article 2 (commencing with Section 13320) of Chapter 3 of Part 3 of Division 3 of Title 2, expenditures of the Climate Catalyst Revolving Loan Fund shall not be subject to the supervision or approval of any other officer or division of state government, with the exception of the Legislature. However, the bank’s budget for the activities authorized in this article shall be prepared and reviewed not later than November 1 of each year.
(b) The bank’s budget regarding the Climate Catalyst Revolving Loan Fund shall include the amount of credit and liabilities of the fund, based on an audit of the fund at the close of the prior fiscal year. The bank’s operating budget in connection with the activities authorized under this article shall be subject to review and appropriation in the annual Budget Act.
(Added by Stats. 2020, Ch. 10, Sec. 2. (AB 78) Effective June 29, 2020.)