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CA AB2202
Bill
AI Summary
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Creates the University of California, San Francisco, San Joaquin Valley Regional Campus Medical Education Endowment Fund in the State Treasury to support development and operation of a branch medical school campus in the San Joaquin Valley
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Requires the endowment fund to accumulate $500 million in principal before any funds can be expended on the branch campus development, operation, or maintenance
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Upon Controller determination that the fund has achieved $500 million and generates sufficient investment earnings, UC must seek approval and accreditation from the Liaison Committee on Medical Education for a branch campus supporting 50 students per class (200 total students)
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Authorizes the fund to receive donations and contributions from public and private entities, partnerships, fees, and transfers from the General Fund, with earnings retained by the fund
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Requires endowment fund allocations to supplement, not replace, existing University of California budget allocations for any fiscal year
Legislative Description
University of California: school of medicine: San Joaquin Valley Regional Medical Education Endowment Fund.
Last Action
Chaptered by Secretary of State - Chapter 756, Statutes of 2018.
9/26/2018