(a) The Public Interest Attorney Loan Repayment Account is hereby established within the State Treasury.
(b) Funds from an IOLTA account that escheat to the state and are deposited into the Public Interest Attorney Loan Repayment Account pursuant to subdivision (c) of Section 1564.5 of the Code of Civil Procedure shall be used, upon appropriation by the Legislature, by the Student Aid Commission for the purpose of providing increased funding for, both the administration of and the provision of loan assistance pursuant to, the Public Interest Attorney Loan Repayment Program pursuant to Article 12 (commencing with Section 69740) of Chapter 2 of Part 42 of Division 5 of Title 3 of the Education Code.
(Added by Stats. 2015, Ch. 488, Sec. 1. (SB 134) Effective January 1, 2016.)
Last modified: October 25, 2018