(a) (1) Upon the determination of the Controller, in consultation with the University of California, that the endowment fund has adequate principal to annually yield sufficient investment earnings, from the date of determination, to cover the annual costs for the development, operation, and maintenance of a branch campus of the University of California, San Francisco, School of Medicine, supporting 50 students per class, or 200 students total, in the San Joaquin Valley over the next 10 years and to fund the estimated costs of obtaining approval and accreditation from the Liaison Committee on Medical Education, the University of California shall seek approval and accreditation from the Liaison Committee on Medical Education for an expanded branch campus of the University of California, San Francisco, School of Medicine in the San Joaquin Valley.

(2) The Controller, upon appropriation by the Legislature, shall transfer moneys from the endowment fund to the University of California, in an amount equal to the estimated costs of applying for and obtaining approval and accreditation from the Liaison Committee on Medical Education for a branch campus of the University of California, San Francisco, School of Medicine in the San Joaquin Valley.

(b) Any funds, public or private, allocated from the endowment fund, shall supplement, not supplant, the University of California budget allocations for any fiscal year.

(Added by Stats. 2018, Ch. 756, Sec. 2. (AB 2202) Effective January 1, 2019.)