CA AB1338

Amends Government Code Section 65965 to add requirements for community foundations that hold real property interests and endowments for environmental mitigation purposes.

Requires community foundations to provide board members and officers with training on fiduciary duties within a specified time period after they begin their tenure, and periodically thereafter, effective January 1, 2021.

Mandates community foundations to post information on their internet website documenting their compliance with the training requirement and each board member and officer's individual compliance.

Applies to community foundations that already meet six existing requirements including federal tax exemption, community trust status, national standards compliance, and Attorney General registration.