CA AB2272

Authorizes the California Educational Facilities Authority to finance working capital loans to participating private colleges in addition to existing project financing authority.

Defines "working capital" as maintenance or operation expenses for educational facilities, faculty/staff housing, and student housing, including reserves for maintenance, interest on working capital loans, and debt service costs.

Amends multiple Education Code sections (94110, 94140, 94146, 94150, 94151, and 94191) to incorporate working capital financing throughout the authority's powers and loan authorization provisions.

Makes an appropriation to the authority to expend funds for the new working capital financing purposes.

Approved by Governor on July 19, 2022 and filed with Secretary of State on July 19, 2022.