§ 100460 Higher Education Funding Authority

• •The Higher Education Facilities Finance Committee can issue debt (like bonds) for the state.
• •The money raised must be used to help UC, CSU, the college named in Section 92200, and community colleges.
• •This authority is given by state law and became effective Jan 1 2023.

The committee decides to sell bonds to raise $500 million, and the money is used to build a new science lab at a community college.

Because the law says the committee can create state debt to fund the University of California, the college in Section 92200, the California State University, and the California Community Colleges, the money from the bonds can be spent on that new lab.