§ 116761.65

California Health and Safety Code · 2026-10 edition · updated 2026-10-04 · California

(a) The board shall establish, and may periodically adjust, the interest rate for repayable financing made pursuant to this chapter at a rate not to exceed 50 percent of the average interest rate, computed by the true interest cost method, paid by the state on general obligation bonds issued in the prior calendar year, rounded up to the closest one-tenth of 1 percent.

(b) Notwithstanding subdivision (a), to the extent authorized by federal law, the board may provide reduced or 0 percent financing to further the purposes of this chapter.

(Amended by Stats. 2022, Ch. 680, Sec. 4. (SB 1188) Effective January 1, 2023.)

Get a plain-English answer with a citation back to this text.

Ask AI about this code

Export this section

▸Contents — California Health and Safety Code

California Health and Safety Code

GoCodebook provides public access, search, citation, multilingual explanation, and practical interpretation of legally adopted building regulations. It is not a substitute for the official ICC or California code publications.