(

a) There is hereby continued in the State Treasury a Home Purchase Assistance Fund. “Fund,” as used in this chapter, means the Home Purchase Assistance Fund. Notwithstanding

Section of the Government Code, all moneys in the fund are continuously appropriated to the agency, without regard to fiscal years, for expenditure pursuant to this

chapter and defraying administrative costs of the agency. Notwithstanding

Section 16305.7 of the Government Code, any interest earned or other increment derived from investments made from moneys in the fund shall be deposited in the fund. (

b) On and after July 1, 2016, all of the following shall apply:

(1) Any unobligated amounts remaining in any fund established for the purposes of

Chapter 9 (commencing with

Section 51450) or

Chapter 11 (commencing with

Section 51500), including, but not limited to, the California Homebuyer’s Downpayment Assistance Program, the School Facility Fee Program, and the Extra Credit Teacher Program, shall be transferred to the Home Purchase Assistance Fund for expenditure by the agency for the purposes of this chapter.

(2) The agency shall have no obligation to continue administering loan programs authorized by

Chapter 9 (commencing with

Section 51450) or

Chapter 11 (commencing with

Section 51500).

(3) Notwithstanding

Section 16305.7 of the Government Code, any interest earned, or other increment derived, from investments made from moneys transferred to the fund pursuant to paragraph (1), and any loan receivables, repayments made, or other sums accruing to the agency pursuant to

Chapter 9 (commencing with

Section 51450) or

Chapter 11 (commencing with

Section 51500) shall be deposited into the fund for expenditure by the agency for the purposes of this chapter.