Code Section Group

Education Code - EDC

TITLE 3. POSTSECONDARY EDUCATION [66000 - 101060]

  ( Title 3 enacted by Stats. 1976, Ch. 1010. )

DIVISION 9. UNIVERSITY OF CALIFORNIA [92000 - 92961]

  ( Division 9 enacted by Stats. 1976, Ch. 1010. )

PART 57. UNIVERSITY OF CALIFORNIA [92000 - 92988]

  ( Part 57 enacted by Stats. 1976, Ch. 1010. )

CHAPTER 2. Fiscal Treasury [92100 - 92166]

  ( Chapter 2 enacted by Stats. 1976, Ch. 1010. )

ARTICLE 6.5. The University of California, San Francisco, San Joaquin Valley Regional Campus Medical Education Endowment Fund [92162 - 92166]
  ( Article 6.5 added by Stats. 2018, Ch. 756, Sec. 2. )

92162.
  

(a) The University of California, San Francisco, San Joaquin Valley Regional Campus Medical Education Endowment Fund is hereby established in the State Treasury. Funds received by the University of California or the Controller, for the purposes set forth in subdivision (b) shall be deposited into the University of California, San Francisco, San Joaquin Valley Regional Campus Medical Education Endowment Fund. For purposes of this article, “endowment fund” means the University of California, San Francisco, San Joaquin Valley Regional Campus Medical Education Endowment Fund.

(b) Moneys in the endowment fund shall be allocated to the University of California, upon appropriation by the Legislature, to support the annual operating costs for the development, operation, and maintenance of a branch campus of the University of California, San Francisco, School of Medicine in the San Joaquin Valley, and to generate funding through investment earnings for the support of medical education in the San Joaquin Valley.

(c) (1) Moneys in the endowment fund shall initially be invested with the goal of achieving capital appreciation to create a balance sufficient to generate ongoing earnings to cover the estimated annual operating costs associated with the development, operation, and maintenance of a branch campus of the University of California, San Francisco, School of Medicine in the San Joaquin Valley. The balance of the endowment fund shall not be deemed sufficient until a balance of five hundred million dollars ($500,000,000) is achieved and maintained in the endowment fund.

(2) Upon the determination of the Controller, in consultation with the University of California, that the endowment fund balance has attained the goal established in paragraph (1), moneys in the endowment fund shall be invested to generate earnings to fund annual operating costs associated with the development, operation, and maintenance of a branch campus of the University of California, San Francisco, School of Medicine in the San Joaquin Valley. Moneys shall be invested in a manner that best meets the goals of the endowment fund.

(d) The endowment fund may receive donations and contributions from public and private entities, partnerships between public and private entities, fees, cash advances, and transfers from the General Fund as may be specified by law.

(e) Earnings generated by the endowment fund shall be retained by the endowment fund.

(f) Moneys deposited in the endowment fund are exempt from the requirements of Sections 11270 to 11275, inclusive, of the Government Code.

(Added by Stats. 2018, Ch. 756, Sec. 2. (AB 2202) Effective January 1, 2019.)

92164.
  

(a) (1) Upon the determination of the Controller, in consultation with the University of California, that the endowment fund has adequate principal to annually yield sufficient investment earnings, from the date of determination, to cover the annual costs for the development, operation, and maintenance of a branch campus of the University of California, San Francisco, School of Medicine, supporting 50 students per class, or 200 students total, in the San Joaquin Valley over the next 10 years and to fund the estimated costs of obtaining approval and accreditation from the Liaison Committee on Medical Education, the University of California shall seek approval and accreditation from the Liaison Committee on Medical Education for an expanded branch campus of the University of California, San Francisco, School of Medicine in the San Joaquin Valley.

(2) The Controller, upon appropriation by the Legislature, shall transfer moneys from the endowment fund to the University of California, in an amount equal to the estimated costs of applying for and obtaining approval and accreditation from the Liaison Committee on Medical Education for a branch campus of the University of California, San Francisco, School of Medicine in the San Joaquin Valley.

(b) Any funds, public or private, allocated from the endowment fund, shall supplement, not supplant, the University of California budget allocations for any fiscal year.

(Added by Stats. 2018, Ch. 756, Sec. 2. (AB 2202) Effective January 1, 2019.)

92166.
  

Nothing in this article shall require the University of California to take any action towards developing a branch campus of the University of California, San Francisco, School of Medicine in the San Joaquin Valley region unless the endowment fund has a balance of five hundred million dollars ($500,000,000) and the Controller, after consultation with the University of California, has determined that the funds to be allocated are sufficient to support annual operating expenses for a San Joaquin Valley branch campus of the University of California, San Francisco, School of Medicine supporting 50 students per class.

(Added by Stats. 2018, Ch. 756, Sec. 2. (AB 2202) Effective January 1, 2019.)

EDCEducation Code - EDC6.5