[§302A-305]  Education research and
development revolving fund.  (a)  There is established, within the
department of education, an education research and development revolving fund
into which shall be deposited all revenues from the commercial exploitation of
products and services developed by the department.  The fund shall be used to
support research and development of innovative curriculum, instructional aids,
related technologies, and the related administrative costs of seeking and
maintaining such commercialization.  Appropriations or authorizations from the
fund shall be expended by the superintendent.



(b)  The department shall provide an annual
report to the governor and the legislature describing all transactions and
activities involved in the administration of the education research and
development revolving fund. [L 2001, c 261, §1]



 



Note



 



  Transfer of certain interest earnings to general fund until
June 30, 2015.  L 2009, c 79, §30(a)(16).