[§304-68.5] International exchange health care tourism revolving fund. (a) There is established a revolving fund for the international exchange of health care tourism program into which shall be deposited all donations, gifts, contributions, legislative appropriations, and moneys generated by the program through education, training, and research contracts and grants. Moneys deposited into this fund for the school of medicine and the school of nursing shall be divided into separate accounts for each school, provided that moneys not designated for use by a particular school shall be divided equally. Moneys shall be expended from each account by the school of medicine and the school of nursing, for student aid, training projects, teaching, supplies, services, and activities related to the development and promotion of the health-related tourism education program.

(b) The deans of the school of medicine and the school of nursing shall jointly prepare and submit an annual report to the legislature accounting for all income and expenditures of the revolving fund.

(c) All unexpended and unencumbered moneys appropriated by the legislature remaining in the fund at the close of each fiscal year which are deemed, by the director of finance, to be in excess of the moneys necessary to carry out the purposes of this section over the next following fiscal year shall lapse to the credit of the state general fund. [L 1998, c 303, pt of §2]