A. There is hereby created in the State Treasury a revolving fund for the Office of Management and Enterprise Services to be designated the "Reduction-in-Force Education Voucher Action Fund". The fund shall be a continuing fund, not subject to fiscal year limitations. All monies accruing to the credit of the fund are hereby appropriated and may be budgeted and expended by the Director of the Office of Management and Enterprise Services for the purposes authorized by subsection B of this section. Expenditures from the fund shall be made upon warrants issued by the State Treasurer against claims filed as prescribed by law with the Director of the Office of Management and Enterprise Services for approval and payment.
B. The fund shall be used for the purpose of providing education vouchers to affected employees exercising rights to severance benefits pursuant to Sections 840-2.27D and 840-2.28 of this title in order to make payment to eligible educational institutions.
C. The Office of Management and Enterprise Services shall establish accounts within the fund for each affected employee who elects to participate in the education voucher opportunity pursuant to Sections 840-2.27D and 840-2.28 of this title, in which shall be placed the affected employee and agency contributions.
Added by Laws 1997, c. 287, § 9, eff. July 1, 1997. Amended by Laws 2012, c. 304, § 887.