173.256. Kids' chance scholarship--fund created, how terminated, lapse into general revenue prohibited. - Missouri Statutes

Kids' chance scholarship--fund created, how terminated, lapse intogeneral revenue prohibited.

173.256. 1. The department of higher education shall collect anddistribute funds for the kids' chance scholarship pursuant to section173.254, however, the department shall not distribute the corpus providedby section 173.258. The department may distribute any accrued interest inthe fund as scholarships after the second Monday in October of 2008.

2. There is hereby created in the state treasury the "Kids' ChanceScholarship Fund", which shall consist of all moneys deposited in the fundpursuant to section 173.258 and all moneys which may be appropriated to itby the general assembly, from federal or other sources, including privatedonations. Upon termination of the fund, all moneys in the fund shall betransferred for the use of the division of workers' compensation fordeposit in the fund created by virtue of section 287.690, RSMo.

3. The state treasurer shall administer the fund and credit allinterest to the fund and the moneys in the fund shall be used solely uponappropriation by the department for the expenses of carrying out its dutiespursuant to this section.

4. Notwithstanding the provisions of section 33.080, RSMo, to thecontrary, moneys in the fund shall not revert to the credit of the generalrevenue fund at the end of the biennium.

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