CA AB2357

Establishes the University of California Kern County Medical Education Endowment Fund in the State Treasury to support a branch campus of an existing UC School of Medicine in Kern County.

Requires endowment moneys (upon legislative appropriation) to fund annual operating costs for development, operation, and maintenance of the Kern County medical branch campus, and to conduct a feasibility study.

Directs initial investment of endowment funds toward capital appreciation to achieve a balance sufficient to generate ongoing earnings for campus operating costs.

Upon Controller determination that adequate principal exists to yield sufficient annual investment earnings, requires UC to seek approval and accreditation from the Liaison Committee on Medical Education for the Kern County branch campus.

Allows endowment fund to receive donations, contributions, and transfers from public and private entities, with earnings retained by the fund and used to supplement (not replace) existing UC budget allocations.