37-106-33 - Use of funds appropriated for implementation of programs; carryover of unexpended funds; proportional decrease of funds in event of decrease in funds appropriated to support and maintain s
§ 37-106-33. Use of funds appropriated for implementation of programs; carryover of unexpended funds; proportional decrease of funds in event of decrease in funds appropriated to support and maintain state or community/junior colleges.
(1) The board shall use the funds appropriated by the Legislature for the implementation of the student tuition grant programs provided for in Sections 37-106-29 and 37-106-31.
(2) At the end of the fiscal year, any unexpended balances in grant award funds established pursuant to Sections 37-106-29 and 37-106-31 shall not lapse into the State General Fund, but shall carry over and be available for expenditure in the succeeding fiscal year, subject to appropriation therefor by the Legislature.
(3) In the event appropriations for the support and maintenance of state institutions of higher learning or the public community/junior colleges is decreased from that appropriated in the preceding fiscal year, the funds appropriated for grant awards to students authorized herein shall also be decreased by an equal percentage. It is not the intent of the Legislature to replace or in any way decrease funds appropriated for the support and maintenance of state institutions of higher learning or the public community/junior colleges due to the appropriation of funds for grant awards to students authorized herein.
Sources: Laws, 1995, ch. 504, § 3, eff from and after passage (approved March 28, 1995).