Sec. 3. (a) The system for teacher and student advancement grant fund is established for the purpose of providing grants to school corporations and charter schools to implement programs described in section 4 of this chapter.
(b) The fund consists of the following:
(1) Appropriations made by the general assembly.
(2) Gifts, grants, devises, or bequests made to the commission for higher education to achieve the purposes of the fund.
(c) The state board, in consultation with the department, shall administer the fund.
(d) The expenses of administering the fund shall be paid from money in the fund.
(e) The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public funds may be invested. Interest that accrues from these investments shall be deposited in the fund.
(f) Money in the fund at the end of a state fiscal year does not revert to the state general fund.
As added by P.L.106-2016, SEC.2. Amended by P.L.73-2019, SEC.3.