California § 69999.7. 69999.7. (Added by Stats. 2004, Ch. 227, Sec. 15.)

California Statutes

§ 69999.7. — 69999.7. (Added by Stats. 2004, Ch. 227, Sec. 15.)

California § 69999.7.

JurisdictionCalifornia

Code EDCEducation Code - EDC

Div.5.

Title 3.DIVISION 5. GENERAL PROVISIONS

Part 42.PART 42. STUDENT FINANCIAL AID PROGRAM

Ch. 2.CHAPTER 2. Student Financial Aid Programs

Art. 20.5.ARTICLE 20.5. Management and Disbursement of Funds Previously Set Aside for Repealed Governor’s Scholarship Programs

This text of California § 69999.7. (69999.7. (Added by Stats. 2004, Ch. 227, Sec. 15.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Education Code - EDC Code § 69999.7. (2026).

Text

(a)Notwithstanding any other provision of law, not later than 30 days after enactment of the Budget Act of 2004, the Scholarshare Investment Board shall transfer from the Golden State Scholarshare Trust to the General Fund the lesser of (1) fifty million dollars ($50,000,000) or (2) the balance resulting from unclaimed awards in the Golden State Scholarshare Trust that exceeds five million dollars ($5,000,000) as of the close of business on the business day preceding the transfer.

(b)The amount remaining in the Golden State Scholarshare Trust after the transfer required by subdivision (a) shall be available as a reserve for funding claims for these awards. If claims for these awards exceed four million dollars ($4,000,000) of the reserve established by this act in the Golden State Schol

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(a)
Notwithstanding any other provision of law, not later than 30 days after enactment of the Budget Act of 2004, the Scholarshare Investment Board shall transfer from the Golden State Scholarshare Trust to the General Fund the lesser of (1) fifty million dollars ($50,000,000) or (2) the balance resulting from unclaimed awards in the Golden State Scholarshare Trust that exceeds five million dollars ($5,000,000) as of the close of business on the business day preceding the transfer.
(b)
The amount remaining in the Golden State Scholarshare Trust after the transfer required by subdivision (a) shall be available as a reserve for funding claims for these awards. If claims for these awards exceed four million dollars ($4,000,000) of the reserve established by this act in the Golden State Scholarshare Trust, the Scholarshare Investment Board shall notify the Controller of the amount of any shortfall of funds for the payment of claims, and the Controller shall transfer an amount of money equal to the shortfall from the General Fund to the Golden State Scholarshare Trust.