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SB-747 Central Valley Medical School Endowment Fund.(2021-2022)



Current Version: 02/19/21 - Introduced Compare Versions information image


SB747:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2021–2022 REGULAR SESSION

Senate Bill
No. 747


Introduced by Senator Hurtado

February 19, 2021


An act to add Section 89012 to the Education Code, relating to postsecondary education, and making an appropriation therefor.


LEGISLATIVE COUNSEL'S DIGEST


SB 747, as introduced, Hurtado. Central Valley Medical School Endowment Fund.
Existing law, the Donahoe Higher Education Act, sets forth the missions and functions of California’s public and independent segments of higher education. The act provides that the University of California has exclusive jurisdiction in public higher education to award the doctoral degree in all fields of learning, except that it may agree with the California State University to award joint doctoral degrees in selected fields. With respect to doctoral degrees, the act limits the California State University to awarding these degrees jointly with the University of California, as described above, or, with approval by the California Postsecondary Education Commission, jointly with independent institutions of higher education.
This bill would create the Central Valley Medical School Endowment Fund, to be administered by the California State University Foundation. The bill would require that moneys received from public and private sources to be used for the purpose of supporting the establishment of a medical school in the central valley region be deposited into that fund and would continuously appropriate moneys in the Central Valley Medical School Endowment Fund to the California State University, as specified.
Vote: MAJORITY   Appropriation: YES   Fiscal Committee: YES   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Section 89012 is added to the Education Code, to read:

89012.
 (a) The Central Valley Medical School Endowment Fund is hereby established, to be administered by the California State University Foundation. Funds received for the purposes set forth in subdivision (b) shall be deposited into the Central Valley Medical School Endowment Fund. For purposes of this section “endowment fund” means the Central Valley Medical School Endowment Fund.
(b) Notwithstanding Section 13340 of the Government Code, all moneys deposited in the endowment fund are hereby continuously appropriated, without regard to fiscal year, to the California State University to support the establishment of a medical school in the central valley region.
(c) The endowment fund may receive donations and contributions from public and private sources.
(d) Earnings generated by the endowment fund shall be retained by the endowment fund.