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<ns0:Id>20250SB__095299INT</ns0:Id>
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<ns0:ActionText>INTRODUCED</ns0:ActionText>
<ns0:ActionDate>2026-02-02</ns0:ActionDate>
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<ns0:SessionYear>2025</ns0:SessionYear>
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<ns0:AuthorText authorType="LEAD_AUTHOR">Introduced by Senator Laird</ns0:AuthorText>
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<ns0:House>SENATE</ns0:House>
<ns0:Name>Laird</ns0:Name>
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<ns0:Title> An act to amend Section 6301.6 of the Public Resources Code, relating to public lands. </ns0:Title>
<ns0:RelatingClause>public lands</ns0:RelatingClause>
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<ns0:Subject>Public lands: administration: impounded funds.</ns0:Subject>
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<html:p>Existing law provides for the administration and control of state lands, including the leasing and sale of public lands, as provided. Existing law authorizes certain impounded funds to be invested and reinvested by the Director of Finance in bonds or other obligations of the United States, as provided.</html:p>
<html:p>This bill would make nonsubstantive changes to that provision to, among other things, use gender-neutral language. </html:p>
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<ns0:Preamble>The people of the State of California do enact as follows:</ns0:Preamble>
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<ns0:Num>SECTION 1.</ns0:Num>
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Section 6301.6 of the
<ns0:DocName>Public Resources Code</ns0:DocName>
is amended to read:
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<ns0:Num>6301.6.</ns0:Num>
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(a)
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If any funds are impounded pursuant to Section 6301.5 under the custody and control of the State of California, those impounded funds may be invested and reinvested by the Director of Finance in bonds or other obligations of the United States. Those
securities may be sold or exchanged by the Director of Finance if, in the Director of Finance’s opinion, that sale or exchange is in the best interests of the state, and shall be sold by the Director of Finance whenever, and to the
extent, necessary to effect any required transfer or other disposition of the impounded funds.
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(b)
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Securities purchased or otherwise acquired under the authority of this section shall be deposited and held in the custody and safekeeping of the State Treasurer, in the name of the account in the fund from which the investments were made.
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(c)
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Interest earned or other increment derived from investments made pursuant to this section shall, on order of the State Controller, be deposited in the fund from which the investments were made to the credit of the account covering the impounded funds, in augmentation of such impounded funds.
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