California Educational Facilities Authority Act establishes the California Educational Facility Authority. The California Educational Facility Authority can provide California private institutions of higher education with an additional means by which to expand, enlarge, and establish dormitory, academic, and related facilities, finance those facilities, and refinance existing facilities. The California Educational Facility Authority can also enter into agreements with specified nonprofit entities to develop student, faculty, and staff housing for the benefit of students enrolled at or faculty working at a participating private college.
Assembly Bill 2272 (AB 2272) amends the California Educational Facilities Authority Act to authorize California Educational Facilities Authority to finance working capital loans to private colleges that do not restrict student admissions on the student’s race or ethnicity. The private colleges must use the working capital for maintenance or operation expenses in connection with the ownership or operation of an educational facility, faculty or staff housing, and student housing.
(AB 2272 amends Sections 94110, 94140, 94146, 94150, 94151, and 94191 of the Education Code.)
