Title EDC — California Educ. Code

This chapter shall be known, and may be cited, as the California Student Housing Revolving Loan Fund Act of 2022.

As used in this chapter, unless the context requires otherwise, the following definitions apply: (a) “Allocation” means the portion of the initial California Student Housing Revolving Loan Fund Act of 2022 appropriation allocated to each designated authority to provide loans purs…

(a) (1) The California Student Housing Revolving Loan Fund is hereby established in the State Treasury to provide zero-interest loans to qualifying college and university applicants for the purpose of constructing affordable student housing and affordable faculty and staff housin…

(a) Each authority shall develop a uniform application that includes requests for relevant information, such as project goals, costs, number of students or faculty and staff to be housed, timeline for the project, financial feasibility of the project, and other information deemed…

A project financed pursuant to this chapter shall meet all of the following requirements: (a) For projects financed pursuant to this chapter that are not University of California projects, all work traditionally performed by employees of the college or university applicant shall …

(a) For projects financed pursuant to this chapter, participating colleges and universities and participating nonprofit entities shall do all of the following: (1) At least seven days before issuing a bid solicitation for the project, send a notice of the solicitation that descri…

(a) For each loan made by an authority, the authority shall establish a schedule of payments, the primary source of which may be lease or rent payments for occupancy of the project financed by that loan, and the sum of which shall be calculated to result in full payment of the lo…

Each authority may adopt, amend, or repeal rules and regulations pursuant to this chapter as emergency regulations. The adoption, amendment, or repeal of these regulations is conclusively presumed to be necessary for the immediate preservation of the public peace, health, safety,…

Each authority shall provide a report to the Department of Finance and the budget committees of the Assembly and Senate by March 15, 2025. The report shall include, but shall not necessarily be limited to, all of the following information: (a) The number of projects receiving loa…

Each authority may charge against the fund its administrative costs, which shall not exceed 3 percent of the authority’s respective allocation amount or proportion of the fund, as the fund may be augmented by revenue bonds over time.