(1) (a) The connecting Colorado students grant program fund is hereby created in the state treasury. The fund consists of money credited to the fund pursuant to subsection (2) of this section and any other money that the general assembly may appropriate or transfer to the fund. The state treasurer shall credit all interest and income derived from the deposit and investment of money in the fund to the fund. The state treasurer shall transfer all unexpended and unencumbered money in the fund on February 1, 2022, to the general fund.
(b) The money in the fund is continuously appropriated to the department for the direct and indirect costs of implementing the program pursuant to this article 103. The department may annually use up to two percent of the money annually awarded as grants from the fund for the expenses incurred in administering the program.
The department may seek, accept, and expend gifts, grants, or donations from privateor public sources for the purposes of this article 103. The department shall transmit all money received through gifts, grants, or donations to the state treasurer, who shall credit the money to the fund.
The general assembly declares that, for purposes of section 17 of article IX of thestate constitution, the program is an important element in improving student safety and may therefore receive funding from the state education fund created in section 17 (4) of article IX of the state constitution.
Source: L. 2020, 1st Ex. Sess.: Entire article added, (HB 20B-1001), ch. 9, p. 45, § 1, effective December 7.