TITLE 2. GOVERNMENT OF THE STATE OF CALIFORNIA 8000-22980›DIVISION 4. FISCAL AFFAIRS 16100-17700›PART 3. STATE BONDS 16650-16965.1›CHAPTER 8. The California Pension Restructuring Bond Act of 2004 16940-16960›ARTICLE 1. General Provisions 16940-16943

§ 16941

California Government Code · 2020-11 edition · updated 2026-10-04 · California

It is the intent of the Legislature, in enacting this chapter, to provide for an efficient, equitable, and economical means of satisfying certain pension obligations of the state. Bonds shall be issued pursuant to this chapter only when the Director of Finance determines that the state’s pension obligations are anticipated to be reduced as a result of changes in the Public Employees’ Retirement Law that reduce contributions to the Public Employees’ Retirement System, and it is in the best interest of the state to issue bonds pursuant to this chapter to accelerate a portion of the state’s anticipated lower pension obligations.

(Added by Stats. 2004, Ch. 215, Sec. 4. Effective August 11, 2004.)

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California Government Code

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