California Education Code

§ 89304

EDC § 89304 Effective Jan 1, 2024Div. 8 · Title 3 · Part 55 · Ch. 3 · Art. 1

Statute text

(a)Upon the favorable vote of two-thirds of the students voting in an election held for the purpose at a state university, in the manner the trustees shall prescribe, and open to all regular students enrolled in the state university, the trustees may establish, in addition to any other student fee the trustees are authorized to establish, a building and operating fee, not to exceed forty dollars ($40) per student per academic year, which shall be required of all students attending the state university. All unexpended funds and money collected by any state university under this section shall be available for financing, operating, and constructing a student body center. All unexpended funds collected by any state university under this section shall be deposited or invested in trust by the chief fiscal officer of that state university in any one or more of the following ways:

(1)Deposits in trust accounts of the centralized state treasury system pursuant to Sections 16305 to 16305.7, inclusive, of the Government Code or in the California State University Trust Fund, or in a bank or banks whose accounts are insured by the Federal Deposit Insurance Corporation.

(2)Investment certificates or withdrawable shares in state-chartered savings and loan associations and savings accounts of federal savings and loan associations, if the associations are doing business in the state and have their accounts insured by the Federal Savings and Loan Insurance Corporation.

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Legislative history

Amended by Stats. 2023, Ch. 188, Sec. 9. (SB 886) Effective January 1, 2024.