Higher Education Incentive Grant Fund

(a)(1) There is established as a nonlapsing fund the Higher Education Incentive Grant Fund, which shall be a separate program line within the University of the District of Columbia budget. All funds deposited into the HEIG fund shall not revert to the unrestricted fund balance of the General Fund of the District of Columbia at the end of a fiscal year, or at any other time, but shall be continually available for the uses and purposes set forth in subsection (b) of this section without regard to fiscal year limitation, subject to authorization by Congress. (2) The HEIG fund shall be funded through: (A) Local funds; (B) Federal funds; (C) Federal grant funds; and (D) Grants, gifts, or subsidies from public or private sources. (b) The funds in the HEIG fund shall be used: (1) To fund the HEI program and the HEI scholarship program; (2) For administrative costs and monitoring of the HEIG fund, not to exceed 10% of the fund balance per fiscal year; and (3) To develop the pre-k workforce development plan in accordance with § 38-274.01.