Cal. Code Regs. Tit. 4, § 8034 - General Fees
The Authority charges the following fees for reasonable and necessary administrative and program expenses connected with the sale of bonds:
(a) Where the financing
requested is not eligible for allocation of volume cap pursuant to
26 U.S.C. Section
146, the Authority charges a fee for
reasonable and necessary administrative and program expenses connected with the
sale of the bonds. For an applicant who is not a small business as defined in
Section 8020, the fee shall be one tenth of
one percent (.001) of the face value of the bonds issued. In addition, the
Authority will charge an annual fee each year for the life of the financial
assistance in the amount of five one-hundredths of one percent (.0005) of the
remaining balance of the financial assistance, with a minimum annual fee of
$1,000 and a maximum annual fee of $75,000.
(b) For small business applicants in
refunding transactions, the fee shall be one tenth of one percent (.001) of the
face value of the bonds issued.
(c)
In all other financings, the fee shall be two tenths of one percent (.002) of
the face value of the bonds issued.
(d) The applicant shall also reimburse the
Authority for all reasonable and necessary out of pocket expenses which the
Authority may incur at the applicant's request and all other expenses direct or
indirect, properly allocable to the proposed financing. Unless paid out of the
proceeds of the bonds issued, all fees for a particular proposed financing
shall be paid by the applicant and deposited in the Authority Fund. The
Authority shall be authorized to use general fees deposited in the Authority
Fund to support Authority programs, including, but not limited to, the Capital
Access Loan Program authorized by Article 7 of this Division 11.
Notes
Note: Authority cited: Section 44520, Division 27, Health and Safety Code. Reference: Sections 44520, 44525 and 44537.5, Division 27, Health and Safety Code.
Note: Authority cited: Section 44520, Division 27, Health and Safety Code. Reference: Sections 44520, 44525 and 44537.5, Division 27, Health and Safety Code.
2. Amendment filed 9-10-96; operative 10-10-96 (Register 96, No. 37).
3. Amendment filed 12-18-2000 as an emergency pursuant to Health and Safety Code section 44520; operative 1-1-2001 (Register 2000, No. 51). A Certificate of Compliance must be transmitted to OAL by 7-2-2001 or emergency language will be repealed by operation of law on the following day.
4. Certificate of Compliance as to 12-18-2000 order transmitted to OAL 6-14-2001 and filed 7-26-2001 (Register 2001, No. 30).
5. Amendment filed 10-27-2009 as an emergency; operative 10-27-2009 (Register 2009, No. 44). A Certificate of Compliance must be transmitted to OAL by 4-26-2010 or emergency language will be repealed by operation of law on the following day.
6. Reinstatement of section as it existed prior to 10-27-2009 emergency amendment by operation of Government Code section 11346.1(f) (Register 2010, No. 18).
7. Amendment refiled 4-29-2010 as an emergency; operative 4-29-2010 (Register 2010, No. 18). A Certificate of Compliance must be transmitted to OAL by 7-28-2010 or emergency language will be repealed by operation of law on the following day.
8. Amendment refiled 7-13-2010 as an emergency; operative 7-13-2010 (Register 2010, No. 29). A Certificate of Compliance must be transmitted to OAL by 10-11-2010 or emergency language will be repealed by operation of law on the following day.
9. Certificate of Compliance as to 7-13-2010 order transmitted to OAL 9-23-2010 and filed 11-4-2010 (Register 2010, No. 45).
10. New subsection (d) filed 12-26-2013 as an emergency; operative 12-26-2013 (Register 2013, No. 52). A Certificate of Compliance must be transmitted to OAL by 6-24-2014 or emergency language will be repealed by operation of law on the following day.
11. Certificate of Compliance as to 12-26-2013 order, including further amendment of subsection (d), transmitted to OAL 5-7-2014 and filed 6-13-2014; amendments effective
12. Amendment of subsection (d) filed 6-29-2016 as an emergency; operative
13. Certificate of Compliance as to 6-29-2016 order transmitted to OAL 11-22-2016 and filed 1-9-2017 (Register 2017, No. 2).
14. Amendment of subsection (b) and repealer of subsection (d) filed 2-10-2025 as an emergency; operative
15. Refiling of 2-10-2025 emergency, including new subsection (b), subsection relettering and amendment of newly designated subsection (c), on 3-11-2025; operative
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
The Authority charges the following fees for reasonable and necessary administrative and program expenses connected with the sale of bonds:
(a) Where the financing requested is not eligible for allocation of volume cap pursuant to 26 U.S.C. Section 146, the Authority charges a fee for reasonable and necessary administrative and program expenses connected with the sale of the bonds. For an applicant who is not a small business as defined in Section 8020, the fee shall be one tenth of one percent (.001) of the face value of the bonds issued. In addition, the Authority will charge an annual fee each year for the life of the financial assistance in the amount of five one-hundredths of one percent (.0005) of the remaining balance of the financial assistance, with a minimum annual fee of $1,000 and a maximum annual fee of $75,000.
(b) In all other financings, the fee shall be two tenths of one percent (.002) of the face value of the bonds issued.
(c) The applicant shall also reimburse the Authority for all reasonable and necessary out of pocket expenses which the Authority may incur at the applicant's request and all other expenses direct or indirect, properly allocable to the proposed financing. Unless paid out of the proceeds of the bonds issued, all fees for a particular proposed financing shall be paid by the applicant and deposited in the Authority Fund. The Authority shall be authorized to use general fees deposited in the Authority Fund to support Authority programs, including, but not limited to, the Capital Access Loan Program authorized by Article 7 of this Division 11.
(d) Notwithstanding subsection (a) and (b), for applications received after July 1, 2016, where the financing requested by a small business applicant is a refunding of a prior sale of bonds previously issued by the Authority and the refunding is included as part of an application which also requests new financing that is greater than the amount refunded by the small business applicant for a new proposed project, the Authority shall have the discretion to charge the small business applicant the Authority's reasonable and necessary expenses allocable to the refunding request in lieu of the fee described in subsection (b) normally applicable to refundings.
Notes
2. Amendment filed 9-10-96; operative 10-10-96 (Register 96, No. 37).
3. Amendment filed 12-18-2000 as an emergency pursuant to Health and Safety Code section 44520; operative 1-1-2001 (Register 2000, No. 51). A Certificate of Compliance must be transmitted to OAL by 7-2-2001 or emergency language will be repealed by operation of law on the following day.
4. Certificate of Compliance as to 12-18-2000 order transmitted to OAL 6-14-2001 and filed 7-26-2001 (Register 2001, No. 30).
5. Amendment filed 10-27-2009 as an emergency; operative 10-27-2009 (Register 2009, No. 44). A Certificate of Compliance must be transmitted to OAL by 4-26-2010 or emergency language will be repealed by operation of law on the following day.
6. Reinstatement of section as it existed prior to 10-27-2009 emergency amendment by operation of Government Code section 11346.1(f) (Register 2010, No. 18).
7. Amendment refiled 4-29-2010 as an emergency; operative 4-29-2010 (Register 2010, No. 18). A Certificate of Compliance must be transmitted to OAL by 7-28-2010 or emergency language will be repealed by operation of law on the following day.
8. Amendment refiled 7-13-2010 as an emergency; operative 7-13-2010 (Register 2010, No. 29). A Certificate of Compliance must be transmitted to OAL by 10-11-2010 or emergency language will be repealed by operation of law on the following day.
9. Certificate of Compliance as to 7-13-2010 order transmitted to OAL 9-23-2010 and filed 11-4-2010 (Register 2010, No. 45).
10. New subsection (d) filed 12-26-2013 as an emergency; operative 12-26-2013 (Register 2013, No. 52). A Certificate of Compliance must be transmitted to OAL by 6-24-2014 or emergency language will be repealed by operation of law on the following day.
11. Certificate of Compliance as to 12-26-2013 order, including further amendment of subsection (d), transmitted to OAL 5-7-2014 and filed 6-13-2014; amendments effective 6-13-2014 pursuant to Government Code section 11343.4(b)(3) (Register 2014, No. 24).
12. Amendment of subsection (d) filed 6-29-2016 as an emergency; operative 6-29-2016 (Register 2016, No. 27). A Certificate of Compliance must be transmitted to OAL by 12-27-2016 or emergency language will be repealed by operation of law on the following day.
13. Certificate of Compliance as to 6-29-2016 order transmitted to OAL 11-22-2016 and filed 1-9-2017 (Register 2017, No. 2).
Note: Authority cited: Section 44520, Division 27, Health and Safety Code. Reference: Sections 44520, 44525 and 44537.5, Division 27, Health and Safety Code.
2. Amendment filed 9-10-96; operative 10-10-96 (Register 96, No. 37).
3. Amendment filed 12-18-2000 as an emergency pursuant to Health and Safety Code section 44520; operative 1-1-2001 (Register 2000, No. 51). A Certificate of Compliance must be transmitted to OAL by 7-2-2001 or emergency language will be repealed by operation of law on the following day.
4. Certificate of Compliance as to 12-18-2000 order transmitted to OAL 6-14-2001 and filed 7-26-2001 (Register 2001, No. 30).
5. Amendment filed 10-27-2009 as an emergency; operative 10-27-2009 (Register 2009, No. 44). A Certificate of Compliance must be transmitted to OAL by 4-26-2010 or emergency language will be repealed by operation of law on the following day.
6. Reinstatement of section as it existed prior to 10-27-2009 emergency amendment by operation of Government Code section 11346.1(f) (Register 2010, No. 18).
7. Amendment refiled 4-29-2010 as an emergency; operative 4-29-2010 (Register 2010, No. 18). A Certificate of Compliance must be transmitted to OAL by 7-28-2010 or emergency language will be repealed by operation of law on the following day.
8. Amendment refiled 7-13-2010 as an emergency; operative 7-13-2010 (Register 2010, No. 29). A Certificate of Compliance must be transmitted to OAL by 10-11-2010 or emergency language will be repealed by operation of law on the following day.
9. Certificate of Compliance as to 7-13-2010 order transmitted to OAL 9-23-2010 and filed 11-4-2010 (Register 2010, No. 45).
10. New subsection (d) filed 12-26-2013 as an emergency; operative 12-26-2013 (Register 2013, No. 52). A Certificate of Compliance must be transmitted to OAL by 6-24-2014 or emergency language will be repealed by operation of law on the following day.
11. Certificate of Compliance as to 12-26-2013 order, including further amendment of subsection (d), transmitted to OAL 5-7-2014 and filed 6-13-2014; amendments effective
12. Amendment of subsection (d) filed 6-29-2016 as an emergency; operative