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

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

 

Note

 

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