§ 53A-1b-104. School Readiness Restricted Account -- Creation -- Funding -- Distribution of funds. (Effective 5/13/2014)

(1) There is created in the General Fund a restricted account known as the "School Readiness Restricted Account" to fund:

(a) the High Quality School Readiness Grant Program described in Section 53A-1b-106; and

(b) results-based school readiness contracts for eligible students to participate in:

(i) a high quality preschool program described in:

(A) Section 53A-1b-107; or

(B) Section 53A-1b-108; or

(ii) an eligible home-based educational technology program described in Section 53A-1b-109.

(2) The restricted account consists of:

(a) money appropriated to the restricted account by the Legislature;

(b) all income and interest derived from the deposit and investment of money in the account;

(c) federal grants; and

(d) private donations.

(3) Subject to legislative appropriations, money in the restricted account may be used for the following purposes:

(a) to award grants under the High Quality School Readiness Grant Program described in Section 53A-1b-106;

(b) to contract with an independent evaluator as required in Subsection 53A-1b-110(3);

(c) in accordance with Section 53A-1b-110, to make payments to one or more private entities that the board has entered into a results-based contract with if the independent evaluator selected by the board determines that the performance-based results have been met; and

(d) for administration costs and to monitor the programs described in this part.

Enacted by Chapter 304, 2014 General Session