(a) Participants in this program are eligible for a maximum of eleven thousand dollars ($11,000) in loan assistance for four years, as follows:
(1) For the first year, two thousand dollars ($2,000) in loan repayment assistance.
(2) For the second, third, and fourth years, three thousand dollars ($3,000) in loan repayment assistance for each year.
(b) Notwithstanding any other provision of law, in any fiscal year, the commission shall award no more than the number of warrants that are authorized in the annual Budget Act for that fiscal year for the assumption of loans pursuant to this article.
(Amended by Stats. 2006, Ch. 79, Sec. 28. Effective July 19, 2006.)