Local government: federal fiscal year.

Existing state constitutional law requires specified revenues from the Highway Users Tax Account to be deposited in various accounts and to be allocated, in part, to cities, counties, or cities and counties, for prescribed purposes. Existing law also requires, for specified periods during the 2009–10 and 2010–11 fiscal years, the borrowing, transfer, or suspension of these allocated revenues, as prescribed. This bill would make several legislative findings and declarations relating to cities that observe the federal fiscal year calendar. The bill would provide that if the Legislature transfers, borrows from, or suspends these allocated revenues, the respective transaction would be suspended during the months of July, August, and September for a city observing the federal fiscal year. The transfer, borrowing, or suspension of revenues would instead commence on October 1 and be completed on or before June 30 of that same state fiscal year.