US Laws, Codes, Statutes & Cases

§10.3.  School and District Accountability Rewards Fund; creation; purpose; distribution

A.  The School and District Accountability Rewards Fund, hereafter referred to as the "fund", is hereby created within the state treasury for the purpose of providing money to be used solely for the purposes provided in this Section.

B.  All monies appropriated to the fund and any grants, other donations or other sources of financial assistance directed to the fund shall be deposited into the fund after compliance with the requirements of Article VII, Section 9(B) of the Constitution of Louisiana relative to the Bond Security and Redemption Fund.  Monies in the fund shall be subject to appropriation by the legislature, and shall be appropriated to the state Department of Education for allocation by the department subject to review by the State Board of Elementary and Secondary Education.  All unexpended and unencumbered monies remaining in the fund at the end of each fiscal year shall remain in the fund.  The monies in such fund shall be invested by the state treasurer in accordance with state law, and interest earned on the investment of these monies shall be credited to the fund after compliance with the requirements of Article VII, Section 9(B) of the Constitution of Louisiana relative to the Bond Security and Redemption Fund.

C.(1)  The state Department of Education shall use money appropriated from this fund for the provision of rewards to schools earning rewards in compliance with the school and district accountability system in accordance with a plan for such allocations approved by the State Board of Elementary and Secondary Education.

(2)  In the plan for allocation of the monies appropriated, the State Board of Elementary and Secondary Education may provide for and the state Department of Education may use money remaining after all school rewards are funded for school improvement, provided the plan is submitted for review and approval by the Joint Legislative Committee on the Budget.

Acts 1997, No. 478, §1, eff. June 30, 1997; Acts 2001, No. 1185, §10, eff. July 1, 2002; Acts 2002, 1st Ex. Sess., No. 16, §§1 and 2, eff. April 18, 2002; Acts 2003, No. 1178, §1, eff. July 3, 2003.

NOTE:  Acts 2002, 1st Ex. Sess., No. 16, §1 removes repeal of R.S. 17:10.3 from list of funds repealed by Acts 2001, No. 1185, §2.