(a) Before implementing a new program pursuant to this title, the board shall consider all of the following:
(1) How best to incentivize low-income families to participate in a qualified tuition program established pursuant to Article 19 (commencing with Section 69980) of Chapter 2 of Part 42 of Division 5 of Title 3 of the Education Code or other college savings programs.
(2) How best to work with local governments, school districts, nonprofits, or other entities to develop programs that automatically enroll families into a qualified tuition program established pursuant to Article 19 (commencing with Section 69980) of Chapter 2 of Part 42 of Division 5 of Title 3 of the Education Code or other college savings programs.
(3) Strategies to select a target population and enrollment strategy, to determine appropriate funding levels for seed money or matching funds, to plan for family and child engagement, and to determine other programming that could encourage financial literacy or college-going behavior.
(b) The board shall consult with relevant committees in the Legislature and the Department of Finance before implementing a program pursuant to this title. The board shall report to the Director of Finance and the Joint Legislative Budget Committee, no later than 30 days before any encumbrances or expenditures of funds appropriated for purposes of this title, regarding its plan for the use of the funds.
(Repealed and added by Stats. 2017, Ch. 250, Sec. 13. (AB 129) Effective September 16, 2017.)
Last modified: October 25, 2018