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California Law (Last Updated: March 4, 2014) |
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Revenue and Taxation Code - RTC |
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Division 1. PROPERTY TAXATION |
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Part 8. DISTRIBUTION |
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Chapter 3. Alternative Method of Distribution of Tax Levies and Collections and of Tax Sale Proceeds |
Section 4710.
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After apportionment to the state of the amounts prescribed by Section 4656.5, amounts received for the redemption of tax-defaulted property shall be distributed as follows:
(a) Any amounts levied but not apportioned to funds at the time of levy in the manner authorized by this chapter and any redemption penalties collected on those amounts shall be distributed to funds as prescribed in Chapter 1c (commencing with Section 4656), except that assessments not apportioned previously shall be distributed to the funds for which levied.
(b) Any amounts which were apportioned to funds at the time of the levy in the manner authorized by this chapter shall be distributed to the apportioned tax resources accounts. The pro rata of redemption penalties or interest collected on any amounts levied but not apportioned to funds at the time of levy shall be distributed to the respective funds and the balance of redemption penalties or interest together with delinquency penalties shall be apportioned to the tax losses reserve fund.
(c) Amounts collected as costs shall be distributed to a restricted county fund to be allocated only for the following purposes:
(1) Updating and improving information with respect to delinquent taxes.
(2) Redemption systems.
(3) Monthly settlements with the auditor pursuant to Section 4108.
(4) The collection of taxes by the tax collector.
The total amount collected on the secured tax roll shall be entered on the secured taxes receivable accounts.