(a) All money received in accordance with the following shall be appropriated for the support of the California State University in addition to other amounts as may be appropriated by the Legislature:
(1) All money received from the sale of California State University publications.
(2) All money received under an agreement entered into pursuant to Section 89036.
(3) Except as to the fees and charges specified in subdivisions (g) and (h) of Section 89721, all money collected as fees from students of the California State University and received from other persons under Sections 89030, 89036 to 89039, inclusive, 89700, 89705, 89708, 89709, 89720, and 89721, and money received pursuant to Section 2080.8 of the Civil Code.
(b) (1) Money received under Sections 89720 and 89721, or received pursuant to Section 2080.8 of the Civil Code, is appropriated pursuant to subdivision (a) without regard to fiscal year.
(2) Money received pursuant to Section 2080.8 of the Civil Code shall be used for student scholarships and loans pursuant to any regulations the trustees provide.
(3) Money received pursuant to Sections 89720 and 89721 may be invested, upon approval of the trustees, by the Treasurer or by the chief fiscal officer of a campus of the California State University, in those eligible securities listed in Section 16430 of the Government Code.
(4) (A) Money received under Sections 89720 and 89721, and received pursuant to Section 2080.8 of the Civil Code, may be invested, upon approval of the trustees and in accordance with Section 89726, by the chief fiscal officer of a campus of the California State University, in any of the following:
(i) Mutual funds subject to registration by, and under the regulatory authority of, the United States Securities and Exchange Commission.
(ii) Publicly traded real estate investment trusts registered with the United States Securities and Exchange Commission.
(iii) Institutional commingled funds, including commingled trust funds and collective trust funds, offered by investment advisors registered with, and under the regulatory authority of, the United States Securities and Exchange Commission.
(iv) Exchange-traded funds subject to registration by, and under the regulatory authority of, the United States Securities and Exchange Commission.
(B) All interest and other earnings received pursuant to the investment of money received pursuant to Sections 89720 and 89721 shall also be used for purposes established by the trustees consistent with the terms and conditions of the gift, bequest, devise, donation, or agreement under Sections 89720 and 89721.
(5) Except as otherwise provided with respect to money received pursuant to Section 2080.8 of the Civil Code and Sections 89720 and 89721, all money received pursuant to this section shall augment the support appropriation to the California State University for the fiscal year to which the collections apply.
(c) All money received from the sale or the disposition of real property acquired by or on behalf of a campus of the California State University by gift, devise, or donation pursuant to Section 89720 or pursuant to the predecessor of that section is hereby appropriated to the trustees for expenditure for capital outlay for the acquisition and improvement of real property for the campus, in addition to any other amounts appropriated by the Legislature. All money received from the sale or other disposition of personal property, other than money, acquired by or on behalf of a campus of the California State University by gift, bequest, or donation pursuant to Section 89720 or the predecessor of that section is hereby appropriated to the trustees for expenditure for capital outlay for, or the acquisition and improvement of real or personal property for, the campus, in addition to other amounts appropriated by the Legislature. No money shall be expended by the trustees under this subdivision without the approval of the Director of Finance. The money shall augment the support or capital outlay appropriation of the California State University current at the date of issuance of the Controller’s receipt as may be designated by the trustees before the deposit of that money in the State Treasury.
(Amended by Stats. 2022, Ch. 530, Sec. 1. (AB 2422) Effective January 1, 2023.)