§ 257.51 — Career academy fund — grant program

Iowa § 257.51

• Jurisdiction: Iowa
• Title VII: EDUCATION, HISTORY, AND CULTURE
• Ch. 257: FINANCING SCHOOL PROGRAMS

Text

1. A career academy fund is created and established as a separate and distinct fund in the
state treasury under the control of the department of education.
2. a. In addition to moneys deposited in the career academy fund pursuant to section
423F.2, the department of education may accept gifts, grants, bequests, and other private
contributions, as well as state or federal funds, and shall deposit the moneys in the fund to
be used for purposes of this section. Moneys in the fund are appropriated to the department
of education and shall be used for the purposes of this section.
b. Notwithstanding section 8.33, moneys in the fund that remain unencumbered or
unobligated at the close of the fiscal year shall not revert but shall remain available for
expenditure for the purposes of this section in succeeding fiscal years. Notwithstanding
section 12C.7, subsection 2, interest earned on moneys in the career academy fund shall be
credited to the fund.
3. The department of education shall adopt rules to establish and administer a career
academy grant program to provide for the allocation of money in the fund in the form of
competitive grants, not to exceed one million dollars per grant, to school corporations for
career academy infrastructure, career academy equipment, or both, in accordance with the
goals of this section and to further the goals of the establishment and operation of career
academies under section 256.137. The rules adopted by the department of education shall
specify the eligibility of applicants and eligible items for grant funding. Priority for grants
shall first be given to applications to establish new career academies that are organized as
regional centers pursuant to chapter 256, subchapter VII, part 2. Subsequent priority shall
be given to applications for expanding existing career academies.