Section 69407 - [See Note] Applicant requirements; institution to not reduce need-based aid; supplement to federal Pell Grant program(a)Consistent with the state's historic commitment to provide educational opportunity by ensuring both student access to, and selection of, an institution of higher education for students with financial need, the long-term policy of the Cal Grant Reform Act established pursuant to this chapter shall be that, commencing with the 2024-25 award year, if funding is included in the annual Budget Act, and every year thereafter, an applicant for a Cal Grant award shall receive an award for payment of tuition or student fees, nontuition costs, or both tuition or student fees and nontuition costs, as specified for each Cal Grant award type, if the applicant complies with both of the following requirements: (1)Demonstrates financial need.(2)Complies with each of the applicable eligibility criteria.(b)An institution of higher education in this state that participates in the Cal Grant Reform Act Program shall not reduce its level of need-based institutional financial aid to undergraduate students, excluding loans, below the total level awarded in the academic year before July 1, 2022.(c)The implementation of the policy set forth in this section shall maintain a balance between the state's policy goals of ensuring student access to, and selection of, an institution of higher education for students with financial need.(d)It is the policy of the State of California that the Cal Grant Reform Act Program supplement the federal Pell Grant program.(e)An award under the Cal Grant Reform Act Program shall not guarantee admission to an institution of higher education or admission to a specific campus or program.Added by Stats 2022 ch 54 (AB 183),s 8, eff. Sections 7, 8, 17, 18, and 52 of this act shall take effect only if General Fund moneys over the multiyear forecasts beginning in the 2024-25 fiscal year are available to support ongoing augmentations and actions, and if funding is provided in the annual Budget Act to implement the Cal Grant Reform Act, established pursuant to Chapter 1.5 (commencing with Section 69405) of Part 42 of Division 5 of Title 3 of the Education Code.