CA AB1400

Redirects College Access Tax Credit Fund moneys from general Cal Grant B supplemental awards to awards for California Community College transfer students enrolling at Historically Black Colleges and Universities (HBCUs) with associate degree for transfer agreements.

Establishes new Article 16 (Section 69840) authorizing the Student Aid Commission to award up to $5,000 per participating student to cover postsecondary costs at partnered HBCUs, beginning with the 2024-25 award year.

Requires partnered HBCUs to be regionally accredited, have associate degree for transfer memoranda of understanding on file with the California Community Colleges Chancellor's office, and meet specified eligibility requirements.

Prioritizes awards to students with greatest unmet financial need who do not exceed Cal Grant B income and asset limits, with awards considered one-time grants payable only when funds are available.

Repeals existing Section 69431.7 (Cal Grant B supplemental awards) effective June 30, 2024, and extends the College Access Tax Credit Fund through December 1, 2028.