§ 5357.1. Determination of Annual Assessment Rate for Passenger Car Rental Industry Assessment.

(a) The assessment for each business of the Passenger Car Rental Industry Segment shall be the Assessment Rate multiplied by such business' Revenue.

(b) The rate shall be adjusted annually by the Office and such adjustment shall not be subject to annual referendum.

(1) By March 31st of each year, each member of the Passenger Car Rental Industry Segment shall submit to the Office the Revenue data for the previous calendar year.

(2) The Office shall annually determine the percentage of Revenue to be collected from the Passenger Car Rental Industry Segment for the following fiscal year, based on the Revenue data received by the Industry as required in Section (b)(1). If the Office does not receive a complete report of Revenue for a given fiscal year, the Office may estimate the additional Revenue based on prior year's information, extrapolation from reported revenue or any other reasonable method.

(3) The assessment rate will be calculated by dividing the revenue required to be funded by statute for the upcoming fiscal year, by the Revenue reported in the previous calendar year.

(4) The Office shall notify the passenger car rental industry of the applicable assessment rate for the next fiscal year by May 1st of that year.

(5) At the end of each fiscal year, if the amount paid by the Passenger Car Rental Industry Segment provides an excess or deficit in funding, that excess or deficit shall be taken into account in setting the subsequent year's rate as provided for in subsection (b)(3).

HISTORY

1. New section filed 12-29-2006 as an emergency; operative 1-1-2007 (Register 2006, No. 52). A Certificate of Compliance must be transmitted to OAL by 5-1-2007 or emergency language will be repealed by operation of law on the following day.

2. New section refiled 4-26-2007 as an emergency; operative 5-2-2007 (Register 2007, No. 17). A Certificate of Compliance must be transmitted to OAL by 8-30-2007 or emergency language will be repealed by operation of law on the following day.

3. Certificate of Compliance as 4-26-2007 order transmitted to OAL 7-2-2007 and filed 8-13-2007 (Register 2007, No. 33).

Note

Note: Authority cited: Section 13995.69, Government Code. Reference: Section 13995.92, Government Code.Authority cited: Section 13995.69, Government Code. Reference: Section 13995.92, Government Code.