CA SB106

Modifies financial agreement requirements for the California Central Coast State Veterans Cemetery at Fort Ord Endowment Fund, changing language from "consultation" to "reviewed and approved" by the Department of Finance.

Changes the adequacy determination for the Endowment Fund from requiring sufficient earnings "annually" to requiring sufficient investment earnings "in each year for the next 10 years" to cover administrative costs net of other revenue sources.

Requires refund of all donations and deposits to the Endowment Fund by specified entities if the Secretary of Veterans Affairs or department fails to submit a grant application, the federal application is denied, or funding is not received for any reason.

Mandates transfer of any remaining Endowment Fund amounts to the General Fund after making required refunds, with all refunds to be completed within six months of grant denial notification.

Declares the act an urgency statute effective immediately to meet the July 1, 2013 federal deadline established by the United States Department of Veterans Affairs for grant applications.