SB 117 Summary

• Shifts funding for higher education student housing from General Fund appropriations to revenue bonds issued by UC, CSU, and community college districts starting in 2023–24 fiscal year, eliminating the previous $1.434 billion General Fund appropriation.

• Expands Learning Recovery Emergency Fund purposes to include scheduled maintenance, facility repairs, and efforts to increase student retention and enrollment by engaging former students impacted by COVID-19.

• Increases Cal Grant awards for independent institutions to $9,358 for the 2023–24 award year and establishes new requirements for associate degree for transfer commitments for future award adjustments.

• Establishes Article 11 requiring community college districts to report annually on progress increasing full-time faculty percentage and faculty diversity, with systemwide reporting and compliance verification by the Chancellor's Office.

• Appropriates $200 million to the California Student Housing Revolving Loan Fund (75% for UC/CSU, 25% for community colleges) and increases seed deposits in the KIDS Program from $25 to $100 per child, with $8 million for marketing.