California Education Code 67329.9 – Each authority may charge against the fund its administrative costs, …
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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.
(Added by Stats. 2022, Ch. 572, Sec. 2. (AB 190) Effective September 27, 2022.)
Terms Used In California Education Code 67329.9
- 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 pursuant to this chapter. See California Education Code 67329.2
- authority: as used in this chapter depends on the college or university system of which the applicant is a member. See California Education Code 67329.2
- Fund: means the California Student Housing Revolving Loan Fund established by this chapter. See California Education Code 67329.2