California · Government Code

GOV §70355: (a) Except for the value computed under Section 70359, all values listed in this article shall be adjusted from the fiscal year of the expenditure to the month of the effective date of transfer for in

What this law says, in plain English

This statute addresses value adjustments for fiscal-year expenditures, excluding calculations under Section 70359, with adjustments made to the effective transfer date.

Read the full statutory text

(a) Except for the value computed under Section 70359, all values listed in this article shall be adjusted from the fiscal year of the expenditure to the month of the effective date of transfer for inflation using, as the inflation index, the average of the following three indices from the Bureau of Labor Statistics Producer Price Index, all rebased to equal 100 as of January 1996: (1) Building cleaning and maintenance services (Series Id PCU 7349). (2) Operators and lessors of nonresidential buildings (Series Id PCU 6512). (3) Maintenance and repair constructions (Series Id PCU BMRP). (b) For purposes of this section, “rebasing” means dividing all the values of the price index, by the value of the price index for the period to which the values are to be rebased, and multiplying the results by 100.

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