SB 77 Summary

• Increases maximum Competitive Cal Grant A and B awards from 25,750 to 41,000 annually, starting 2019-20 academic year, and provides additional awards for Cal Grant recipients with dependent children attending public postsecondary institutions.

• Establishes Cal Grant B Service Incentive Grant Program requiring students to perform 100-150 hours of community service per term to receive up to $1,500 per semester in additional grants, limited to 2,500 participants.

• Creates California Kids Investment and Development Savings Program (KIDS Program) establishing 529 accounts with seed deposits of at least $25 for low-income California children born on or after July 1, 2020, with funds deposited upon college enrollment.

• Authorizes Child Savings Account Grant Program providing grants of at least $100,000 to local governments and nonprofits to establish or expand local child savings account programs, with 74% for new programs and 24% for program expansion.

• Amends community college funding formula for 2019-20 and subsequent fiscal years, adjusts California College Promise to allow two-year fee waivers instead of one, establishes Center to Close Achievement Gaps at California State University, and extends various reporting requirements and appropriations for higher education initiatives.