(1) It is the intent of the general assembly that any costs associated with implementing
this article shall be paid for by the receipt of any available federal moneys or other
gifts, grants, or donations and that no additional general fund moneys be appropriated
for the implementation of the grant program.
(2) The department is authorized to seek, accept, and expend any federal moneys or
other gifts, grants, or donations for the purposes of this article. If necessary, any gifts, grants, or donations shall be transmitted to the state
treasurer who shall credit them to the early childhood educator development scholarship
fund, which fund is hereby created and referred to in this section as the “fund”.
(3) The moneys in the fund shall be continuously appropriated to the department for
the direct and indirect costs associated with implementing this article. Any moneys in the fund not expended for the purpose of this article may be invested
by the state treasurer as provided by law. All interest and income derived from the investment and deposit of moneys in the
fund shall be credited to the fund. Any unexpended and unencumbered moneys remaining in the fund at the end of a fiscal
year shall remain in the fund and shall not be credited or transferred to the general
fund or another fund.
(4) The department shall retain only the actual amount of direct and indirect costs
necessary to implement this article.
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