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CA AB973
Bill
Status
Failed
2/1/2024
Primary Sponsor
Esmeralda Soria
Click for details
AI Summary
- Increases the required endowment fund balance from $500,000,000 to $750,000,000 to be deemed sufficient for ongoing operations
- Fund supports annual operating costs for development, operation, and maintenance of a UC San Francisco School of Medicine branch campus in the San Joaquin Valley
- Moneys in the fund shall be initially invested for capital appreciation until the $750,000,000 balance is achieved and maintained
- Upon reaching the sufficient balance, the fund shall be invested to generate earnings to cover annual operating costs of the branch campus
- Fund may receive donations, contributions, fees, cash advances, and transfers from the General Fund as specified by law
Legislative Description
University of California, San Francisco, San Joaquin Valley Regional Campus Medical Education Endowment Fund.
Last Action
From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.
2/1/2024
Committee Referrals
Higher Education3/23/2023
Full Bill Text
No bill text available