TITLE 2. GOVERNMENT OF THE STATE OF CALIFORNIA 8000-22980›DIVISION 4. FISCAL AFFAIRS 16100-17700›PART 7. STATE-MANDATED LOCAL COSTS 17500-17630›CHAPTER 4. Identification and Payment of Costs Mandated by the State 17550-17617›ARTICLE 1. Commission Procedure 17550-17571
§ 17561.5
California Government Code · 2020-11 edition · updated 2026-10-04 · California
The payment of an initial reimbursement claim by the Controller shall include accrued interest at the Pooled Money Investment Account rate, if the payment is being made more than 365 days after adoption of the statewide cost estimate for an initial claim. Interest shall begin to accrue as of the 366th day after adoption of the statewide cost estimate for the initial claim. Payment of a subsequent claim that was reported to the Legislature pursuant to paragraph (2) of subdivision (b) of Section 17562 shall include accrued interest at the Pooled Money Investment Account rate for any unpaid amount remaining on August 15 following the filing deadline. Interest shall begin to accrue on August 16 following the filing deadline.
(Amended by Stats. 2007, Ch. 179, Sec. 17. Effective August 24, 2007.)
Get a plain-English answer with a citation back to this text.
Ask AI about this code