(a) (1) The methodology set forth in federal law or regulation shall serve as the formula for determining the expected family contribution of students seeking any state-funded financial assistance.

(2) Commencing with the 2024-25 award year, if funding for the Cal Grant Reform Act (Chapter 1.5 (commencing with Section 69405)) is included in the annual Budget Act, the methodology set forth in federal law or regulation shall serve as the formula for determining the eligibility index for student aid of students seeking any state-funded financial assistance.

(b) For purposes of determining the dependent and independent status of students, the definition set forth in the federal law or regulation shall serve as the definition for students seeking any state-funded financial assistance.

(Amended by Stats. 2022, Ch. 54, Sec. 18. (AB 183) Effective June 30, 2022. Conditionally operative as prescribed by Stats. 2022, Ch. 54, Sec. 65.)