17060.
(a) (1) For fiscal years beginning with the 2012–13 fiscal year, there shall be allowed to a qualified student a credit against the “net tax,” as defined in Section 17039, in an amount equal to the qualified student’s scholarship grant award credit determined by the Student Aid Commission pursuant to Section 70021 of the Education Code and other applicable provisions of Article 22 (commencing with Section 70020) of Chapter 2 of Part 42 of Division 5 of Title 3 of the Education Code.(2) The amount of the scholarship grant award credit determined by the Student Aid Commission under paragraph (1) shall be provided to the qualified student in writing, and that amount shall be paid pursuant to subdivision (c) in lieu of the qualified student claiming the scholarship grant award credit on any return that may be filed under Part 10.2 (commencing with Section 18401) with respect to the income of the qualified student for any taxable year.
(b) For purposes of this section, “qualified student” means a student that meets all of the requirements of Section 70021 of the Education Code to be eligible for a credit under this section.
(c) The credit allowed under this section shall be payable to the California State University or the University of California, as the case may be, for the benefit of the qualified student, and shall be applied by the California State University or the University of California, as the case may be, to reduce the qualified student’s mandatory systemwide fees, within the meaning of Section 70021 of the Education Code, for a fiscal year.
(d) The Student Aid Commission shall provide the Franchise Tax Board with information for each qualified student regarding the amount of the credit allowed under this section, the student identification information for the qualified student benefitting from the credit, and whether the credit is payable to the Regents of the University of California or the Trustees of the California State University. Based on this information, the Franchise Tax Board shall make payments from the Tax Relief and Refund Account on behalf of the qualified student to either the Regents of the University of California or the Trustees of the California State University, as the case may be.
(e) (1) The credit allowed under this section shall be administered by the Student Aid Commission as described in Article 22 (commencing with Section 70020) of Chapter 2 of Part 42 of Division 5 of Title 3 of the Education Code, in the manner determined under regulations issued by the Student Aid Commission. The University of California and the California State University shall provide the commission with any information that is necessary for the administration of the Middle Class Scholarship Program.
(2) The Student Aid Commission may prescribe rules and regulations necessary to carry out the purposes of this section, including any rules and regulations necessary to establish priorities, procedures, processes, requirements, and rules identified in, or required to implement, this section, including rules relating to the priority of applications received and the allocation of credits in whatever priority is contained in those regulations.
(3) The allocation methodology and the amount of scholarship grant award credits determined by the Student Aid Commission may not be reviewed, revised, or adjusted in any administrative or judicial proceeding.
(4) The Student Aid Commission may adopt regulations under paragraph (2) as emergency regulations in accordance with Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code. For purposes of the Administrative Procedure Act, including Section 11349.6 of the Government Code, the adoption of those regulations shall be deemed to be an emergency and necessary for the immediate preservation of the public peace, health and safety, or general welfare, notwithstanding subdivision (e) of Section 11346.1 of the Government Code. Notwithstanding subdivision (e) of Section 11346.1 of the Government Code, any regulation adopted pursuant to this section shall not remain in effect more than 180 days unless the Student Aid Commission complies with all provisions of Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code, as required by subdivision (e) of Section 11346.1 of the Government Code.
(f) Except as provided for in subdivision (c), the credit under this section shall not be available to offset, reduce, or otherwise diminish any debt, liability, or financial obligation owed to the state.