Section 173.256

Title XI EDUCATION AND LIBRARIES

Chapter 173

Effective - 28 Aug 2008   

  173.256.  Kids' chance scholarship — fund created, how terminated, lapse into general revenue prohibited. — 1.  The department of higher education and workforce development shall collect and distribute funds for the kids' chance scholarship pursuant to section 173.254, however, the department shall not distribute the corpus provided by section 173.258.  The department may distribute any accrued interest in the fund as scholarships after the second Monday in October of 2008.

  2.  There is hereby created in the state treasury the "Kids' Chance Scholarship Fund", which shall consist of all moneys deposited in the fund pursuant to section 173.258 and all moneys which may be appropriated to it by the general assembly, from federal or other sources, including private donations.  Upon termination of the fund, all moneys in the fund shall be transferred for the use of the division of workers' compensation for deposit in the fund created by virtue of section 287.690.

  3.  The state treasurer shall administer the fund and credit all interest to the fund and the moneys in the fund shall be used solely upon appropriation by the department for the expenses of carrying out its duties pursuant to this section.

  4.  Notwithstanding the provisions of section 33.080 to the contrary, moneys in the fund shall not revert to the credit of the general revenue fund at the end of the biennium.

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(L. 1998 H.B. 1237, et al. § 1, A.L. 2008 H.B. 2191)