Cal. Pub. Util. Code § 99268.3

(a) In the case of an operator which is serving an urbanized area, and which was eligible for funds under this article during the 1978–79 fiscal year even though not required to be in compliance with Section 99268 or which commenced operation after that fiscal year, the operator shall be eligible for such funds in any fiscal year, commencing with claims for the 1980–81 fiscal year, if it maintains, for the fiscal year, a ratio of fare revenues to operating cost, as defined by subdivision (a) of Section 99247, at least equal to one-fifth or to the ratio it had during the 1978–79 fiscal year, whichever is greater.

(c) In the case of an operator serving an urbanized area, and which was in operation during the 1978–79 fiscal year even though not then eligible for funds under this article, but which has since become eligible for such funds, the operator shall be eligible for such funds in any fiscal year, commencing with the 1980–81 fiscal year, if it complies with either of the following: (1) The requirements of Section 99268. (2) The requirements of subdivisions (a) and (b).