California Welfare and Institutions Code

§ 18997.53

WIC § 18997.53 Effective Jan 1, 2025Div. 9 · Part 6 · Ch. 16.1

Statute text

(a)The California Hope, Opportunity, Perseverance, and Empowerment (HOPE) for Children Trust Account Fund is hereby established in the State Treasury. Notwithstanding Section 13340 of the Government Code, except for moneys derived from the federal American Rescue Plan Act of 2021 (Public Law 117-2), moneys in the fund shall be continuously appropriated, without regard to fiscal years, to the HOPE Trust Account Program Board and the Treasurer for implementation of the program.

(b)(1) The Treasurer may do both of the following:

(A)Invest moneys in the fund that are not required for its current needs in the eligible securities specified in Section 16430 of the Government Code.

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Legislative history

Amended by Stats. 2024, Ch. 1010, Sec. 9. (SB 242) Effective January 1, 2025.