20-9-250. (Temporary) Innovative educational program account -- revenue allocated -- appropriations from account.
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20-9-250 . (Temporary) Innovative educational program account -- revenue allocated -- appropriations from account.
(1)There is an innovative educational program account in the state special revenue fund established in 17-2-102 . The funds in the account must be administered by the superintendent of public instruction.
(2)The superintendent of public instruction shall deposit in the account innovative educational program donations transferred from school districts because the donations exceed the limits provided for in 15-30-3110 (7).
(3)Interest and earnings on the account must be deposited in the account.
(4)Money in the account is statutorily appropriated, as provided in 17-7-502 , to the superintendent of public instruction for distribution pursuant to 15-30-3110 (7)(c) to school districts that receive advanced opportunity aid under 20-7-1506 (4). The funds must be distributed in addition to the advanced opportunity aid distributions under 20-7-1506
(4)and at the same time and in the same proportion as the advanced opportunity aid distributions. (Terminates December 31, 2029--sec. 12, Ch. 558, L. 2023.)