AB 155 Summary

• Establishes the Rebuilding Nursing Infrastructure Grant Program to support community college nursing programs through competitive grants up to $2 million per award, with application deadline November 1, 2024 and first round awards by July 1, 2025.

• Authorizes the State Public Works Board to issue up to $804,725,000 in revenue bonds to finance affordable student housing for 13 specified community colleges, with rents capped at 30% of 50% of area median income.

• Increases funding for community college part-time faculty office hours from 50% to 90% state reimbursement of compensation costs, effective July 1, 2024.

• Adjusts Cal Grant cohort default rate eligibility to use 2020 rates for the 2024–25 academic year and repeals provisions regarding the Student Aid Commission's auxiliary organization.

• Defers $446.4 million in community college apportionments from fiscal year 2023–24 to 2024–25, and $243.7 million from 2024–25 to 2025–26, while appropriating $787.7 million from the Public School System Stabilization Account for community college districts.