1. The Great Teaching and Leading Fund is hereby created in the State General Fund, to be administered by the Superintendent of Public Instruction. The Superintendent may accept gifts and grants from any source for deposit in the Fund. Any money from such gifts and grants must be expended only in accordance with the terms and conditions of the gift or grant, or in accordance with NRS 391A.500 to 391A.515, inclusive.
2. The interest and income earned on:
(a) Money in the Fund, after deducting any applicable charges; and
(b) Unexpended appropriations made to the Fund from the State General Fund,
must be credited to the Fund.
3. Any money in the Fund and any unexpended appropriations made to the Fund from the State General Fund remaining at the end of a fiscal year do not revert to the State General Fund, and the balance in the Fund must be carried forward to the next fiscal year.
4. The money in the Fund may only be used for public schools and public education, as authorized by the Legislature and in accordance with the priorities of programs prescribed by the State Board pursuant to subsection 4 of NRS 391A.505, or for any other purpose authorized by the Legislature.
(Added to NRS by 2015, 3694; A 2020, 31st Special Session, 93)