Revenue and Taxation Code section 46012

“Designated amount” means an amount equal to one hundred nine million seven hundred fifty thousand dollars ($109,750,000), subject to the following:

(a)

Fifty-four million eight hundred seventy-five thousand dollars ($54,875,000) shall be retained in the Oil Spill Response Trust Fund as cash.

(b)

Fifty-four million eight hundred seventy-five thousand dollars ($54,875,000) shall be accessible in the Oil Spill Response Trust Fund in the form of financial security obtained by the Treasurer.

Source: Section 46012, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=RTC§ionNum=46012.­ (updated Jan. 1, 1997; accessed Jul. 21, 2025).

Green check means up to date. Up to date

Verified:
Jul. 21, 2025

§ 46012's source at ca​.gov