CA SB861

Confirms and ratifies that the Director of Finance's allocations from the National Mortgage Special Deposit Fund in fiscal years 2011–12, 2012–13, and 2013–14 were consistent with legislative direction to offset General Fund expenditures.

Declares that allocations displayed in the Governor's proposed budget for 2012–13 and 2013–14 and left unchanged in those budget acts constituted legislative approval of the fund expenditures.

Amends Government Code Section 12531 to clarify that the Controller may use funds from the National Mortgage Special Deposit Fund for cashflow loans to the General Fund.

Appropriates $25,000 from the General Fund to the Department of Finance for legal fees and costs.

Takes effect immediately as a bill related to the Budget Bill.