S99 - Appropriations Act of 2018. (SL 2018-5)

Overview: OVERVIEW and ANALYSIS: Sec. 10A.4 of S.L. 2018-5 codifies into statutes the Transforming Principal Preparation Grant Program (Program) that was first enacted by the General Assembly in 2015. Beginning with the 2018-2019 fiscal year, of the funds appropriated each fiscal year for the Program, $380,000 must be allocated to the State Education Assistance Authority (SEAA) to contract with the nonprofit corporation to administer the Program. Up to five percent of the funds may be used by the SEAA for administrative costs. The section also repeals the requirement that unexpended funds appropriated to award grants to recipients that remain at the end of each fiscal year must revert to the General Fund.

This section became effective July 1, 2018 and applies to the administration of the Program and the award of grants on or after July 1, 2018. The provision repealing the requirement that unexpended funds revert to the General Fund became effective June 30, 2018.