(a) There is created in the state treasury a special fund to be known as the promising futures fund, hereinafter referred to as the fund. The fund created by this subsection (a) is the same fund described in § 67-6-205(d)(4)(C).
(b) The fund consists of:(1) Any amounts credited to the fund pursuant to § 67-6-205(d)(4)(C);(2) Moneys specifically appropriated to the fund by the general assembly;(3) Any federal funds, grants, gifts, or donations received by the department for purposes consistent with this part; and(4) Any other moneys authorized by law to be deposited into the fund.
(1) Any amounts credited to the fund pursuant to § 67-6-205(d)(4)(C);
(2) Moneys specifically appropriated to the fund by the general assembly;
(3) Any federal funds, grants, gifts, or donations received by the department for purposes consistent with this part; and
(4) Any other moneys authorized by law to be deposited into the fund.
(c) Moneys in the fund must be used solely for the purposes authorized in this part and used as funds are available, subject to appropriation by the general assembly.
(d) Notwithstanding § 9-4-205 or another law to the contrary, interest earned on moneys in the fund must be credited to and remain in the fund. Any moneys in the fund remaining unexpended at the end of any fiscal year do not revert to the general fund.
(e) From any amounts credited to the fund, the department may retain and use up to ten percent (10%) of the fund balance for administrative purposes and to implement, operate, oversee, evaluate, and report on the programs created in this part, including payments to third-party administrators or vendors. Any amounts used by the department pursuant to this subsection (e) are separate from, and may not be used for, the regulation, enforcement, or collection of any taxes, fees, or assessments.
(f) This section must not be construed to limit the authority of any state agency to expend moneys, pursuant to appropriation, for the administration, enforcement, or collection of any taxes, fees, or assessments authorized under title 67.