California Education Code 92901 – It is the intent of the Legislature that all of the following …
It is the intent of the Legislature that all of the following occur:
(a) That the University of California receive seventy-five million dollars ($75,000,000) for each year for four years, for a total of three hundred million dollars ($300,000,000) for the 2000-01 fiscal year to the 2003-04 fiscal year, inclusive, for capital and operating budget purposes.
Terms Used In California Education Code 92901
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(b) That the University of California receive twenty million dollars ($20,000,000) for each of the 2001-02 and 2002-03 fiscal years and thirty million dollars ($30,000,000) for each of the 2003-04 and 2004-05 fiscal years, for a total of one hundred million dollars ($100,000,000) for capital and operating budget purposes.
(c) That a portion of the funds referenced in subdivisions (a) and (b) be available, in an amount not to exceed 5 percent of the annual appropriation, for annual operating budget expenditures. Upon completion of each project, the level of ongoing funding for the operating budget of the institutes will be determined by the Governor and the Legislature through the annual budget process.
(d) That the University of California will not seek further state funding for capital outlay associated with these four institutes beyond that provided within the four hundred million dollar ($400,000,000) total.
(e) Every dollar of state funds appropriated for these institutes shall be matched by at least two dollars ($2) of nonstate funds, including, but not necessarily limited to, federal and private funds.
(Amended by Stats. 2001, Ch. 891, Sec. 29. Effective October 14, 2001.)