(a) A postsecondary educational institution currently eligible to participate in state-funded student financial aid programs pursuant to this chapter or in federal financial aid programs is eligible and strongly encouraged to participate in the program.

(b) Before participating in the program, each institution shall sign an institutional agreement with commission acknowledging its willingness to administer the program pursuant to this article and guidance developed by the commission, in consultation with the office of the President of the University of California, the office of the Chancellor of the California State University, and the office of the Chancellor of the California Community Colleges. The agreement shall include the procedures that the institution shall use to ensure that each learning-aligned employment position is related to the student’s area of study or career interests.

(c) Each participating public postsecondary educational institution shall be required, as a condition of participation in the program, to comply with such auditing or other fiscal reporting requirements as the commission, in consultation with the office of the President of the University of California, the office of the Chancellor of the California State University, and the office of the Chancellor of the California Community Colleges, may establish. These requirements shall be applied by the commission, in consultation with the office of the President of the University of California, the office of the Chancellor of the California State University, and the office of the Chancellor of the California Community Colleges, so as to ensure that no payments received pursuant to this article are applied to the general aid or support of the institution.

(Amended by Stats. 2021, Ch. 144, Sec. 35. (AB 132) Effective July 27, 2021.)