(1) There is hereby created in the state treasury the innovative higher education research fund, which shall consist of:
Repealed.
Any moneys that the general assembly may appropriate to the research fund;
Any moneys received pursuant to section 23-19.7-103 (1)(j);
Any money transferred pursuant to section 44-30-701 (2); and
All income and interest derived from the deposit and investment of moneys in theresearch fund.
(2) Moneys in the research fund shall be subject to annual appropriation by the general assembly for the direct and indirect costs associated with the implementation of this article. Unexpended and unencumbered moneys remaining in the research fund at the end of any fiscal year shall remain in the research fund and shall not be credited or transferred to the general fund or any other fund.
Source: L. 2007: Entire article added, p. 1602, § 1, effective May 31. L. 2009: Entire section amended, (SB 09-292), ch. 369, p. 1966, § 71, effective August 5. L. 2010: Entire section amended, (HB 10-1018), ch. 421, p. 2162, § 1, effective June 10. L. 2011: (1) amended, (SB 11-159), ch. 54, p. 143, § 3, effective March 25. L. 2018: (1)(d) amended, (SB 18-034), ch. 14, p. 244, § 27, effective October 1.
Editor's note: Subsection (1)(a) provided for the repeal of subsection (1)(a), effective July 1, 2014. (See L. 2011, p. 143.)