(a) CaliforniaVolunteers, as established by Executive Order S-24-06, is authorized to form a nonprofit public benefit corporation or other entity exempt from income taxation as an organization described in Section 501(c)(3) of the Internal Revenue Code or Section 23701d of the Revenue and Taxation Code to raise revenues and receive grants or other financial support from private or public sources, for the purposes of undertaking or funding any lawful activity authorized to be undertaken by CaliforniaVolunteers. Grants or financial support received by the nonprofit public benefit corporation or other entity shall be used solely for the governmental purposes approved by CaliforniaVolunteers for activities within the scope of authority of CaliforniaVolunteers. No more than 10 percent of the grants and financial support received by the nonprofit public benefit corporation or other entity may be used to pay for the administrative costs of that nonprofit public benefit corporation or other entity. The mission of the nonprofit public benefit corporation or other entity is as follows:

(1) To support the funding of CaliforniaVolunteers programming and administrative costs.

(2) To support any priorities set forth by the Governor or the CaliforniaVolunteers board of commissioners.

(b) The authority granted in subdivision (a) shall expire if the Governor rescinds Executive Order S-24-06 or otherwise rescinds the establishment of CaliforniaVolunteers.

(Added by Stats. 2016, Ch. 743, Sec. 1. (AB 1765) Effective January 1, 2017. Note: Section 8455 is located in Chapter 5.4, following Section 8334.)