Cal. Code Regs. tit. 5 § 56684

Current through Register 2024 Notice Reg. No. 42, October 18, 2024

Section 56684 - Repayment of Loans

Upon certification by the Chancellor a loan shall be drawn from the Community College Fund for Instructional Improvement by the State Controller in favor of the applicant district. During each of the three years beginning with the fiscal year immediately succeeding the fiscal year in which the loan is made under this section, the State Controller shall deduct from the second principal apportionment made from Section B of the State School Fund to the community college district an amount equal to one-third of the amount loaned to the district, and transfer the amount into the Community College Fund for Instructional Improvement.

Cal. Code Regs. Tit. 5, § 56684

1. New section filed 3-4-91 by Board of Governors of California Community Colleges with the Secretary of State; operative 4-5-91 (Register 91, No. 23). Submitted to OAL for printing only pursuant to Education Code Section 70901.5(b).
2. Editorial correction of HISTORY 1 (Register 95, No. 23).

Note: Authority cited: Sections 66700 and 70901, Education Code. Reference: Section 70901, Education Code.

1. New section filed 3-4-91 by Board of Governors of California Community Colleges with the Secretary of State; operative 4-5-91 (Register 91, No. 23). Submitted to OAL for printing only pursuant to Education Code Section 70901.5(b).
2. Editorial correction of History 1 (Register 95, No. 23).