Section 200-M:4 Fund Established.
I. There is hereby established in the office of the state treasurer a fund to be known as the CART provider and sign language interpreter net tuition repayment fund. The fund shall include any sums appropriated for such purpose. In addition, the postsecondary education commission is authorized to accept public sector and private sector grants, gifts, or donations of any kind for the purpose of funding the provisions of this chapter. The moneys in this fund shall be nonlapsing and shall be continually appropriated to the postsecondary education commission. The fund may be expended by the postsecondary education commission to accomplish the purposes of this chapter. The state treasurer may invest moneys in the fund as provided by law, with interest received on such investment credited to the fund.
II. A minimum balance of $100,000 shall be in the CART provider and sign language interpreter net tuition repayment fund prior to the selection of the first participant.
Source. 2009, 207:1, eff. July 15, 2009.