§18-5E-7. Innovation in education fund.

There is hereby created in the State Treasury a special revenue fund to be known as the "Innovation in Education Fund." The fund shall consist of all moneys received from whatever source to further the purpose of this article. The fund shall be administered by the state board solely for the purposes of this article, including providing grants and other financial assistance to innovation in education designated schools to implement and carry out such schools innovation in education plans. Any moneys remaining in the fund at the close of a fiscal year shall be carried forward for use in the next fiscal year. Fund balances shall be invested with the state's consolidated investment fund and any and all interest earnings on these investments shall be used solely for the purposes that moneys deposited in the fund may be used pursuant to this article.