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Bill > AB1602

CA AB1602

CA AB1602
Student, faculty, and staff housing: California Student Housing Revolving Loan Fund Act of 2022.

summary

Introduced
01/03/2022
In Committee
08/02/2022
Crossed Over
05/26/2022
Passed
Dead
08/31/2022

Introduced Session

2021-2022 Session

Bill Summary

An act to amend Sections 94110, 94140, 94144, 94146, 94147, 94151, 94154, 94190, 94191, 94192, 94193, 94194, and 94195 of, and to add Chapter 14.28 (commencing with Section 67329.1) to Part 40 of Division 5 of Title 3 of, the Education Code, relating to public postsecondary education, making an appropriation therefor, and declaring the urgency thereof, to take effect immediately.

AI Summary

This bill establishes the California Student Housing Revolving Loan Fund Act of 2022 to provide zero-interest loans to the University of California, California State University, and California Community Colleges for the purpose of constructing affordable student housing and affordable faculty and staff housing. The bill establishes the California Student Housing Revolving Loan Fund as a continuously appropriated fund in the State Treasury and expresses the intent of the Legislature to appropriate $5 billion for the housing loans. The bill requires the California School Finance Authority and the California Educational Facilities Authority to submit a report on the act by March 2024 and applies certain provisions of the California Educational Facilities Authority Act to the University of California and California State University for housing projects. The bill declares it is to take effect immediately as an urgency statute.

Committee Categories

Budget and Finance, Education, Labor and Employment

Sponsors (12)

Last Action

In committee: Held under submission. (on 08/11/2022)

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