§ 16-7.1-18 - Investment funds – Funding. - Rhode Island Statutes

SECTION 16-7.1-18

   § 16-7.1-18  Investment funds –Funding. – Funding of the investment funds enumerated in § 16-7.1-6, 16-7.1-8,16-7.1-9, 16-7.1-10, 16-7.1-11, and 16-7.1-12 shall be by funds set aside fromthe state operations aid to be provided to school districts in the same manneras funds set aside and provided to school districts pursuant to chapter 67 ofthis title for literacy programs. The amount to be set aside will be thatamount designated for each investment fund in the state budget as enacted. Thefunds thus set aside and provided to school districts shall be used for thepurposes required by the terms of §§ 16-7.1-6, 16-7.1-8, and16-7.1-9. The fund thus set aside and provided to school districts shall berestricted to be used for the purposes required by the terms of §§16-7.1-10, 16-7.1-11, and 16-7.1-12. The full set aside amount will beavailable for use by the school district. Use of this set aside amount must bebased on the strategic plan required to be submitted by local school districtsto the department of elementary and secondary education by chapter 7.1 of thistitle.