Gov. Code, § 15820.208

(a) Notwithstanding any other law, the authority allocated pursuant to subdivision (a) of Section 15820.205 to support student housing projects pursuant to this chapter that is withdrawn, relinquished, deobligated, or otherwise remains unexpended by a recipient participating college that has completed a previously authorized student housing project shall be available for reallocation by the chancellor’s office to eligible student housing project applications submitted by participating colleges to the chancellor’s office on or before July 1, 2026.

(b) The chancellor’s office shall review, score, and rank previously submitted project applications and any new student housing project applications received on or before July 1, 2026, using the same review and scoring criteria applied to student housing project applications used by the chancellor’s office in prior application cycles, and shall allocate available funds to the highest scoring eligible projects consistent with the goals of this chapter.

(c) Funding allocated pursuant to this section shall remain subject to the requirements of this chapter and any applicable provisions governing the use of funds under the Higher Education Student Housing Grant Program (Chapter 18.5 (commencing with Section 17200) of Part 10 of Division 1 of Title 1 of the Education Code).

(d) (1) The authority provided pursuant to this section shall remain in effect until all available funds identified in subdivision (a) have been awarded or reallocated, or the remaining balance is too small to reasonably be financed.

(2) The office of the Treasurer may sweep the remaining authority described in paragraph (1) upon the determination by the Department of Finance and the chancellor’s office that the remaining balance is too small to reasonably provide financing for any authorized purpose under this chapter.