CA AB1051

Creates the Pooled Self-Insurance Fund within the State Treasury to consolidate insurance reserves held by the Department of Veterans Affairs for its veteran home loan program

Allows the department to pool reserves from multiple authorization sources to provide reliable, consistent, and affordable home protection and strengthen bond ratings under the Veterans' Farm and Home Purchase Act of 1974

Requires the department to publish rules for fund administration, purchase insurance as needed, and submit annual reports to the Legislature detailing insurance coverage types, costs, loss ratios, and any coverage changes

Mandates that each subfund achieve self-sufficiency within three years of borrowing from other subfunds, with biennial audits beginning six months after inception and annual premium rate adjustments

Permits emergency borrowing from the Veterans' Farm and Home Building Fund of 1943 with mandatory repayment within three years, and directs excess moneys from dissolved subfunds to revert to the Veterans' Farm and Home Building Fund of 1943