Section 10277.5 - Funding for Retirement Trust(a) One hundred thousand dollars ($100,000) is hereby appropriated from the General Fund to the State Department of Social Services in the 2023-24 fiscal year for a one-time contribution payable to Child Care Provider United - California (CCPU), or its designee, for the establishment of the CCPU Retirement Trust.(b) Eighty million dollars ($80,000,000) is hereby appropriated from the General Fund to the State Department of Social Services in the 2023-24 fiscal year for a lump-sum contribution to the trust established pursuant to subdivision (a) for the purpose of providing retirement benefits to family childcare providers, as defined in subdivision (b) of Section 10421. This appropriation shall not require the state to assume any administrative or fiduciary responsibilities related to the trust, which shall be the sole responsibilities of CCPU and its designated trust administrator.(c) In accordance with the memorandum of understanding between CCPU and the State of California, CCPU shall provide the state with an annual report to detail the distribution of funds from the prior year and any remaining balance.(d)(1) Effective July 1, 2024, funding shall be allocated to the State Department of Social Services from funds in Schedule (3) of Item 5180 of the Budget Act of 2024 to make a single additional contribution to the trust established pursuant to subdivision (a) to restore the balance to eighty million dollars ($80,000,000) within 90 days of receiving the annual report if the remaining balance reported in the annual report is less than that amount.(2) Thirty days prior to making the additional contribution specified in paragraph (1), the State Department of Social Services and the Department of Finance shall provide a notice to the Senate Health and Human Services budget subcommittees, Assembly and Senate Education budget subcommittees, and the Legislative Analyst's Office of the intended amount of the additional contribution for purposes of implementing paragraph (1).(e) If the provisions of this section are in conflict with the provisions of a memorandum of understanding reached pursuant to Section 10426, the memorandum of understanding shall be controlling without further legislative action, except that if such provisions of a memorandum of understanding require the expenditure of funds, the provisions shall not become effective unless approved by the Legislature in the annual Budget Act.Ca. Welf. and Inst. Code § 10277.5
Added by Stats 2023 ch 193 (SB 140),s 14, eff. 9/13/2023.