CA SB1416

Creates the Graduate Medical Education Trust Fund in the State Treasury to receive private donations and interest for funding graduate medical education residency training programs in California.

Requires the Office of Statewide Health Planning and Development, in consultation with the California Healthcare Workforce Policy Commission, to develop distribution criteria for fund moneys upon receipt of sufficient donations to cover development costs.

Prioritizes funding for programs located in medically underserved areas with proven records of placing graduates in those areas and emphasizing primary care and community-needed specialties.

Allows appropriated funds to support both existing and new graduate medical education residency slots and to serve as matching funds for available federal grants.

Prohibits the use of General Fund moneys to implement the bill; fund consists solely of private donations and accrued interest.