79-8,137.05 Excellence in Teaching Cash Fund; created; use; investment. - Nebraska Statutes

79-8,137.05. Excellence in Teaching CashFund; created; use; investment.The Excellence in Teaching CashFund is created. The fund shall consist of appropriations by the Legislature,transfers pursuant to section 9-812, and loan repayments, penalties, and interestpayments received in the course of administering the Attracting Excellenceto Teaching Program and theEnhancing Excellence in Teaching Program. The department shallallocate on an annual basis upto four hundred thousand dollars in the aggregate of the fundsto be distributed for the Attracting Excellence to Teaching Program toall eligible institutions according to the distribution formula as determinedby rule and regulation. The eligibleinstitutions shall act as agents of the department in the distribution ofthe funds for the AttractingExcellence to Teaching Program to eligible students. The remaining available funds shall bedistributed by the department to eligible students for the Enhancing Excellencein Teaching Program. Any money in the fund available for investmentshall be invested by the state investment officer pursuant to the NebraskaCapital Expansion Act and the Nebraska State Funds Investment Act. SourceLaws 2000, LB 1399, § 19; Laws 2001, Spec. Sess., LB 3, § 6; R.S.1943, (2008), § 79-8,136; Laws 2009, LB547, § 12. Cross ReferencesNebraska Capital Expansion Act, see section 72-1269.Nebraska State Funds Investment Act, see section 72-1260.