California Education Code

§ 70115.1

EDC § 70115.1 Effective Jul 1, 2019Div. 5 · Title 3 · Part 42 · Ch. 4

Statute text

(a)Subject to an appropriation in the Budget Act, the commission shall distribute grants to qualifying entities based on how many of them are eligible to receive a grant pursuant to subdivisions (b) to (d), inclusive, the amount of available funding under the Child Savings Account Grant Program to award grants, the number of students that each participating entity intends to serve under the program, and the percentage of low-income families residing in the community served by each participating entity. The amount of each grant award to a participating entity shall be, at a minimum, one hundred thousand dollars ($100,000). Funds appropriated in the Budget Act of 2019 for this purpose shall be available for encumbrance or expenditure by the commission until June 30, 2022.

(b)(1) The commission shall award a grant to a qualifying entity for one of the following purposes:

(A)For funding to initiate a new local child savings account program.

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Legislative history

Added by Stats. 2019, Ch. 53, Sec. 18. (SB 77) Effective July 1, 2019.