SECTIONS 140280 - California Statutes

PUBLIC UTILITIES CODE

SECTION 140280

140280. (a) The repeal of Division 13 (commencing with Section
140000), and the termination of the Santa Clara County Traffic
Authority, do not impair either the validity of any transactions and
use tax imposed by the authority prior to its termination, or the
power or obligation of the State Board of Equalization to administer
the collection of the tax, including audits and prosecutions related
to the tax. Upon notice to the State Board of Equalization, given in
accordance to the notice procedures specified in the Agreement for
the State Administration of District Transactions and Use Taxes
executed between the Santa Clara County Traffic Authority and the
board, the authority may assign and sell to another legal entity the
right to receive the revenue derived from the tax and determined by
the State Board of Equalization to be available for transmittal. The
State Board of Equalization shall be bound by that assignment upon
the required notice. If the authority does not assign the right to
receive the revenue derived from the tax, the revenue shall be
transmitted to the Santa Clara County Transit District. All revenue
transmitted to the Santa Clara County Transit District pursuant to
this section shall be expended solely for purposes authorized by
Division 13 (commencing with Section 140000) prior to the repeal of
that division. The right to receive the assigned revenues shall be
limited to the receipt thereof, and shall not extend to any audit
privileges or access to confidential information of the State Board
of Equalization.
(b) Notwithstanding Chapter 6 (commencing with Section 57450) of
Part 5 of Division 3 of Title 5 of the Government Code, upon
termination of the Santa Clara County Traffic Authority, the Santa
Clara County Transit District shall be the successor for purposes of
winding up the affairs of the traffic authority.