Section 12100.91 - [Effective until 6/30/2024] Funds for administrative expenses Subject to appropriation by the Legislature, the following shall apply:
(a) The office may use up to 0.5 percent of funds for administrative expenses. A grantmaking entity may use up to 20 percent of its allocation for administrative expenses (including fiscal agent fee), marketing, and outreach to qualified microbusiness owners in underserved business groups, including businesses owned by women, minorities, veterans, individuals without documentation, individuals with limited English proficiency, and business owners located in low-wealth and rural communities.(b) Any unused money by the grantmaking entity, less that 20 percent administrative expenses, outreach and marketing funds, shall be transferred back to the office by June 29, 2024.Amended by Stats 2023 ch 45 (AB 127),s 25, eff. 7/10/2023.Amended by Stats 2022 ch 68 (SB 193),s 22, eff. 6/30/2022.Added by Stats 2021 ch 74 (SB 151),s 18, eff. 7/12/2021.