Cal. Pub. Util. Code § 99268.19
Claims for Funds
Redline — January 1, 2011 → current.View current text →
Current — January 1, 2021
As of January 1, 2011
If fare revenues are insufficient to meet the applicable ratio of fare revenues to operating cost required by this article, an operator may satisfy that requirement by supplementing its fare revenues with local funds. “Local funds” means revenues derived from taxes imposed by the operator or by a county transportation commission created pursuant to Division 12 (commencing with Section 130000) of the Public Utilities Code.
If fare revenues are insufficient to meet the applicable ratio of fare revenues to operating cost required by this article, an operator may satisfy that requirement by supplementing its fare revenues with local funds and calculating all free and reduced transit fares at their current full retail value. As used in this section, “local funds” means any nonstate grant funds or other revenues generated by, earned by, or distributed to an operator.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.