                                 CODE OF VIRGINIA

COLLEGE PARTNERSHIP LABORATORY SCHOOL FUND (§ 22.1-349.2)

There is created in the state treasury a special nonreverting fund to be known
as the College Partnership Laboratory School Fund, referred to in this section
as &#8220;the Fund.&#8221; The Fund shall be established on the books of the
Comptroller. All funds appropriated in accordance with the general appropriation
act and any gifts, grants, bequests, or donations from public or private sources
shall be paid into the state treasury and credited to the Fund. Interest earned
on moneys in the Fund shall remain in the Fund and be credited to the Fund. Any
moneys remaining in the Fund, including interest thereon, at the end of each
fiscal year shall not revert to the general fund but shall remain in the Fund.
Moneys in the Fund shall be used solely for the purposes of establishing or
supporting college partnership laboratory schools that stimulate the development
of alternative education programs for preschool through grade 12 students by
providing opportunities for innovative instruction and greater cooperation and
coordination between institutions of higher education and preschool through
grade 12 education systems. Expenditures and disbursements from the Fund shall
be made by the State Treasurer on warrants issued by the Comptroller upon
written request signed by the Superintendent of Public Instruction. The Board
shall establish criteria for making distributions from the Fund to a college
partnership laboratory school requesting moneys from the Fund and may issue
guidelines governing the Fund as it deems necessary and appropriate.

HISTORY: 2010, cc. 816, 871, § 23-299.1; 2016, c. 588.