California AB1802 regulates the management and investment of endowments for mitigation lands.

California AB1802 amends the Government Code to establish rules for the management and investment of endowments for mitigation lands. It prohibits certain entities from holding endowments, including for-profit entities, unless specific conditions are met. The bill allows for the endowment to be held by governmental entities, community foundations, special districts, or nonprofit organizations if they meet certain criteria. It mandates that the Department of Fish and Wildlife post summary tables on its website every five years, detailing the status of endowments.

California AB1802 regulates the management and investment of endowments for mitigation lands.

California AB1802 amends the Government Code to establish rules for the management and investment of endowments for mitigation lands. It prohibits certain entities from holding endowments, including for-profit entities, unless specific conditions are met. The bill allows for the endowment to be held by governmental entities, community foundations, special districts, or nonprofit organizations if they meet certain criteria. It mandates that the Department of Fish and Wildlife post summary tables on its website every five years, detailing the status of endowments.