[§29-25] Department of education; federal funds; general fund offset. (a) Federal impact aid, U.S. Department of Defense funds, and federal indirect overhead reimbursements received by the department of education shall not be returned to the general fund.
(b) If the amount of federal impact aid and U.S. Department of Defense funds received by the department of education exceeds the authorized appropriation in the general appropriations act or the supplemental appropriations act, then the governor shall:
(1) Allow the department of education to increase the federal fund expenditure ceiling for all program identification numbers, each by an amount proportionate to its portion of the total general fund appropriation made by the legislature, and by the amount that the federal impact aid and U.S. Department of Defense funds received by the department of education exceeds the authorized appropriation in the general appropriations act or the supplemental appropriations act; and
(2) Allow the department of education to retain the full amount of the general fund offset created by increased impact aid receipts; provided that the department shall not use the general fund offset to create new programs or expand existing programs.
(c) The department of education shall submit a report to the legislature, not fewer than twenty days prior to the convening of each regular session, concerning the exact amount and specific nature of federal impact aid, U.S. Department of Defense funds, and federal indirect overhead reimbursements received under this section. [L 2000, c 234, §1]