Water: University of California: California Institute for Water Innovation and Technology: corporate income taxes: credit: water technology.

Existing provisions of the California Constitution provide that the University of California constitutes a public trust, and require that the university be administered by the Regents of the University of California, a corporation in the form of a board, with full powers of organization and government, subject to legislative control only for specified purposes. These provisions require that corporation to have all the powers necessary or convenient for the effective administration of its trust.