Section 46012 - "Designated amount" defined"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.Ca. Rev. and Tax. Code § 46012
Amended by Stats. 1996, Ch. 362, Sec. 14. Effective January 1, 1997.