§302A-305 - Education research and development revolving fund.
[§302A-305] Education research and development revolving fund. (a) There is established, within the department of education, an education research and development revolving fund into which shall be deposited all revenues from the commercial exploitation of products and services developed by the department. The fund shall be used to support research and development of innovative curriculum, instructional aids, related technologies, and the related administrative costs of seeking and maintaining such commercialization. Appropriations or authorizations from the fund shall be expended by the superintendent.
(b) The department shall provide an annual report to the governor and the legislature describing all transactions and activities involved in the administration of the education research and development revolving fund. [L 2001, c 261, §1]
Note
Transfer of certain interest earnings to general fund until June 30, 2015. L 2009, c 79, §30(a)(16).