The Governor proposes a number of loans from special funds established for resources and environmental protection programs and deferrals of special fund loan repayments, to create a one–time General Fund benefit of about $350 million over the current and budget years (see Figure 7). The Governor proposes budget bill or trailer bill language specifying the final repayment date of these loans and requiring that repayment be made so as to ensure that the programs supported by the special fund are not adversely affected by the loan.
Figure 7
Governor’s Proposed Special Fund Loans—
Resources and Environmental Protection Special Funds |
(Dollars in Millions) |
Special Fund |
Amount of Loan |
Year of Loan |
Repayment Date |
California Beverage Container
Recycling Fund |
$99.4 |
2009-10 |
2012-13 |
Off-Highway Vehicle Trust Fund |
90.0 |
2008-09 |
2012-13 (partial payments beginning in 2010-11) |
School Land Bank Fund |
61.0 |
2008-09 |
2012-13 |
Fish and Game Preservation Fund, Non-dedicated Account |
30.0 |
2008-09 |
2012-13 |
Harbors and Watercraft Revolving Fund |
29.0 |
2008-09 |
2012-13 (partial payments beginning in 2010-11) |
California Tire Recycling Management Fund |
17.1 |
Deferral of repayment of 2003-04 loan, initially budgeted in 2008-09 |
2011-12 |
California Tire Recycling Management Fund |
10.0 |
2008-09 |
2010-11 |
California Teleconnect Fund
Administrative Committee Fund |
5.0 |
Deferral of partial repayment of 2003-04 loan, initially budgeted in 2008-09 |
2010-11 |
Integrated Waste Management
Account |
4.8 |
Deferral of repayment of 2003-04 loan, initially budgeted in 2008-09 |
2009-10 |
Recycling Market Development Revolving Loan Subaccount |
1.9 |
Deferral of repayment of 2003-04 loan, initially budgeted in 2008-09 |
2011-12 |
Total |
$348.2 |
|
|
We find that the condition of the various special funds can accommodate the loans at the proposed amounts and that the General Fund benefit assumed in the budget is achievable.