§ 1615.Money In Abandoned Property Account Appropriated For Expenditure By Controller

Running this chapter's federal-custody program costs money on an ongoing basis, cost-sharing payments to the United States, and potential indemnification if a claim comes in, and this section makes sure funding doesn't lapse just because a fiscal year ends. All money in the Abandoned Property Account within the Unclaimed Property Fund is continuously appropriated to the State Controller, without regard to fiscal years, meaning the Controller doesn't need a fresh appropriation each budget cycle to keep spending on this chapter's purposes.

That standing appropriation covers two specific uses: paying California's proportionate share of costs under any contract the state has entered with the United States, the kind of cost-sharing agreement Section 1602 authorizes, and paying whatever sums are necessary to indemnify the United States for losses arising from claims against property already delivered into California's custody, the obligation Section 1603 creates.