69984.3.
(a) (1) Notwithstanding any other law, the board shall consider entering into an agreement with a card issuer that includes, but is not necessarily limited to, a provision requiring the credit card issuer to provide a reasonable award, or a number of points leading to an award, that would be automatically deposited into a Scholarshare trust account. Awards under this agreement would be accumulated through the use of a credit card issued by the card issuer.(2) With respect to its consideration of entering into an agreement as described in paragraph (1), the board shall report its decision, and the rationale for that decision, at a regularly scheduled public meeting of the board on or before June 30, 2016. The board shall report this decision, in writing, in a timely manner, to the chairpersons of the education policy committees of the Senate and the Assembly. This paragraph shall become inoperative on January 1, 2020.
(b) As used in this section, “card issuer” and “credit card” have the same meanings as defined in Section 1747.02 of the Civil Code.