California Code of Regulations › Title 4 - Business Regulations › Division 11 - California Pollution Control Financing Authority › Article 3 - General Provisions Relating to Authority Actions › Section 8035 - Small Business Assistance Fund Fees

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The
				Authority shall charge an applicant who is not a public agency or a small
				business as defined in Section
				8020 a fee in addition to the fees
				required by Sections
				8033 and
				8034. The additional fee shall fund
				the Small Business Assistance Fund (SBAF). The amount of the fee shall be
				sixty-six one-hundredths of one percent (.0066) of the face value of any tax
				exempt bonds issued and three tenths of one percent (.003) of the face value of
				any taxable bonds issued; provided, that in connection with the issuance of
				taxable bonds for which the .003 fee is charged, if such taxable bonds are
				refinanced with or converted to tax exempt bonds, the applicant shall pay an
				additional fee for deposit into the Small Business Assistance Fund in the
				amount of thirty-six one-hundredths of one percent (.0036) of the face value of
				such taxable bonds. In the case of refunding or conversion of bonds, the fee
				percentage applicable on the date the original bonds were issued will be used
				to determine if additional SBAF fees are collectable. If the company did not
				pay a SBAF fee originally, the current fee percentage will apply to refundings
				or conversions. If federal tax law or other legal provisions prevent the
				imposition of the above fees, each fee shall be the maximum that can legally be
				charged.
(b) The Authority shall
				refund a portion of the fee charged pursuant to subdivision (a) of this section
				if the occurrence of a subsequent event causes the original fee to exceed the
				amount allowed by federal tax law provisions, causing the bonds to lose their
				tax exempt status. The refund shall be the difference between the original fee
				charged and the maximum fee subsequently determined to be chargeable by bond
				counsel approved by the Authority.
(c) The Authority shall refund a portion of
				the fee charged if, in the judgment of the Authority, the amount in the Small
				Business Assistance Fund account exceeds the amount needed to operate the Small
				Business Assistance Fund program and to assist small businesses obtain
				financing. If the Authority makes a refund pursuant to this subdivision, the
				amount of the refund payable to each applicant shall be computed by multiplying
				the total amount to be refunded by the percentage each applicant contributed in
				fees to the total fees collected pursuant to this section.
(d) If an applicant refinances existing bonds
				with the issuance of new bonds, it shall receive a credit against the fee
				charged pursuant to this section in an amount equal to the net Small Business
				Assistance Fund fees paid on the earlier bonds.
(e) The assessment of the fee provided for in
				subsection (a) is waived on all financing transactions closing on or before
				December 31, 2026.
1. New section
				  filed 7-3-86; effective upon filing pursuant to Government Code section
				  11346.2(d)
				  (Register 86, No. 27).
2. Amendment of subsection (a) filed 9-15-94;
				  operative 9-15-94 pursuant to Government Code section
				  11346.2(d)
				  (Register 94, No. 37).
3. Amendment of subsection (a) filed 9-10-96;
				  operative 10-10-96 (Register 96, No. 37).
4. Amendment of subsection
				  (a) filed 6-1-98 as an emergency; operative 6-1-98 (Register 98, No. 23). A
				  Certificate of Compliance must be transmitted to OAL by 9-29-98 or emergency
				  language will be repealed by operation of law on the following
				  day.
5. Reinstatement of section as it existed prior to 6-1-98
				  emergency amendment by operation of Government Code section
				  11346.1(f)
				  (Register 98, No. 52).
6. Amendment of subsection (a) filed
				  12-23-98; operative 12-23-98 pursuant to Government Code section
				  11343.4(d)
				  (Register 98, No. 52).
7. Amendment of subsection (a) filed
				  10-27-2009 as an emergency; operative 10-27-2009 (Register 2009, No. 44). A
				  Certificate of Compliance must be transmitted to OAL by 4-26-2010 or emergency
				  language will be repealed by operation of law on the following
				  day.
8. Reinstatement of section as it existed prior to 10-27-2009
				  emergency amendment by operation of Government Code section
				  11346.1(f)
				  (Register 2010, No. 18).
9. Amendment of subsection (a) refiled
				  4-29-2010 as an emergency; operative 4-29-2010 (Register 2010, No. 18). A
				  Certificate of Compliance must be transmitted to OAL by 7-28-2010 or emergency
				  language will be repealed by operation of law on the following
				  day.
10. Amendment of subsection (a) refiled 7-13-2010 as an
				  emergency; operative 7-13-2010 (Register 2010, No. 29). A Certificate of
				  Compliance must be transmitted to OAL by 10-11-2010 or emergency language will
				  be repealed by operation of law on the following day.
11.
				  Certificate of Compliance as to 7-13-2010 order transmitted to OAL 9-23-2010
				  and filed 11-4-2010 (Register 2010, No. 45).
12. Amendment of
				  subsection (a) and NOTE filed 7-23-2012; operative 7-23-2012 pursuant to
				  Government Code section
				  11343.4
				  (Register 2012, No. 30).
13. New subsection (e) filed 4-23-2013 as
				  an emergency pursuant to Health and Safety Code section
				  44520(b);
				  operative 4-23-2013 (Register 2013, No. 17). A Certificate of Compliance must
				  be transmitted to OAL by 10-21-2013 or emergency language will be repealed by
				  operation of Health and Safety Code section
				  44520(b)
				  on the following day.
14. Certificate of Compliance as to 4-23-2013
				  order transmitted to OAL 8-21-2013 and filed 9-24-2013 (Register 2013, No.
				  39).
15. Amendment of subsections (e) and (f) filed 5-4-2015 as an
				  emergency; operative 5-4-2015 (Register 2015, No. 19). A Certificate of
				  Compliance must be transmitted to OAL by 11-2-2015 or emergency language will
				  be repealed by operation of law on the following day.
16.
				  Certificate of Compliance as to 5-4-2015 order transmitted to OAL 9-16-2015 and
				  filed 10-27-2015 (Register 2015, No. 44).
17. Amendment of
				  subsections (e) and (f) filed 6-29-2016 as an emergency; operative 6-29-2016
				  (Register 2016, No. 27). A Certificate of Compliance must be transmitted to OAL
				  by 12-27-2016 or emergency language will be repealed by operation of law on the
				  following day.
18. Certificate of Compliance as to 6-29-2016 order
				  transmitted to OAL 11-22-2016 and filed 1-9-2017 (Register 2017, No.
				  2).
19. Amendment of subsection (e) and repealer of subsection (f)
				  filed 3-3-2023; operative 7-1-2023 (Register 2023, No. 9).
Note: Authority cited: Sections
					 44520
					 and
					 44548,
					 Health and Safety Code. Reference: Section
					 44548,
					 Health and Safety Code.