California Code of Regulations › Title 15 - Crime Prevention and Corrections › Division 3 - Adult Institutions, Programs and Parole › Chapter 1 - Rules and Regulations of Adult Operations and Programs › Subchapter 2 - Inmate Resources › Article 1.5 - Inmate Wages and Deductions › Section 3099 - Inmate Trust Account Interest

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Beginning
					 January 1, 2009, interest earned on Inmate Trust Account deposits shall be
					 distributed to qualifying inmates' trust accounts based upon the average daily
					 balance in their trust account. A qualifying inmate is one who has provided a Social
					 Security Account Number or a Taxpayer ID Number and that number has been validated
					 with either the Social Security Administration or Internal Revenue
					 Service.
(b) Interest will be
					 distributed in whole penny increments. (Interest will not be rounded up to the next
					 penny).
(c) Inmate Trust Account funds
					 shall be deposited into an interest bearing account within the California State
					 Treasury.
(d) The State Treasury account
					 bears interest quarterly. Operational costs shall be deducted from the interest
					 earned on that account prior to disbursal of the remainder to qualifying inmate
					 trust accounts on a monthly basis. The interest rate paid to inmates will be
					 determined by reducing the rate earned to a rate that will allow maximum
					 distribution of available interest to qualifying inmates. The rate paid will not
					 exceed the rate earned.
(e) Inmates with
					 validated U. S. Social Security Account numbers or validated Tax ID numbers shall be
					 eligible to receive interest.
(f)
					 Inmates who have received $10 or more interest during a tax year shall have a Form
					 1099INT filed by CDCR.
(g) Interest
					 distribution shall occur monthly and be subject to all normal debts and obligations
					 including restitution.
(h) Costs for
					 providing interest such as charges by Social Security Administration for validation
					 of Social Security Numbers, cost of forms for reporting, and mailing costs will be
					 deducted from the interest earned prior to distribution to inmates.
(i) The balance of the interest earned is the
					 amount remaining after distribution of whole penny increments plus interest earned
					 on non-qualifying inmate trust accounts less cost of providing interest. The balance
					 of interest earned remaining at the end of a fiscal year shall be deposited into the
					 Inmate Welfare Fund for the benefit of all inmates.
1. New section
						filed 12-16-2008 as an emergency; operative 12-16-2008 (Register 2008, No. 51).
						Pursuant to Penal Code section
						5058.3, a
						Certificate of Compliance must be transmitted to OAL by 5-26-2009 or emergency
						language will be repealed by operation of law on the following day.
2.
						Certificate of Compliance as to 12-16-2008 order transmitted to OAL 5-22-2009 and
						filed 6-17-2009 (Register 2009, No. 25).
Note: Authority cited: Sections
						  5058 and
						  5058.3, Penal Code.
						  Reference: Sections
						  5008 and
						  5054, Penal
						  Code.
The amended version of this section by
						Register
						2024, No. 28, effective 7/1/2024 is not yet
						available.