(a) Except as provided in subsection (b) of this Section 1415, for purposes of California Constitution Article XIIIB, the appropriations limit for the Authority for fiscal year 2003-04 and each year thereafter shall be $485,175,000 unless that amount should be amended pursuant to applicable law.
(b) Pursuant to California Constitution Article XIIIB and applicable laws, for four years from November 8, 2022, the appropriations limit for the Authority shall be increased by the aggregate sum collected by the levy of the Tax imposed under Article 14 of the Business and Tax Regulations Code.
(Added by Ord. 267-89, App. 7/27/89; amended by Proposition K, 11/4/2003; Proposition L, 11/8/2022, Eff. 11/8/2022, Oper. 4/1/2023)