(1) (a) Except as otherwise provided in paragraphs (b) and (c) of this subsection (1), for the 2008-09 budget year and each budget year thereafter, a school district that does not report any full-day kindergarten pupils in the district's pupil enrollment count as of the pupil enrollment count day shall hold the moneys received for full-day kindergarten programs through supplemental kindergarten enrollment pursuant to section 22-54-103 (7)(d) in a full-day kindergarten reserve in the district's general fund. The district shall not use the moneys in the full-day kindergarten reserve until the district enrolls one or more pupils in full-day kindergarten in the district. Once the district enrolls pupils in full-day kindergarten in the district, the district shall not be required to maintain the full-day kindergarten reserve.

(b) For the 2008-09 budget year, a school district that does not report any full-day kindergarten pupils in the district's pupil enrollment count as of the pupil enrollment count day may use the moneys received for full-day kindergarten programs through supplemental kindergarten enrollment pursuant to section 22-54-103 (7)(d) for planning and facility preparation necessary for the district to offer a full-day kindergarten program in subsequent budget years. Each school district shall, on or before June30, 2009, return to the department of education any unexpended and unencumbered amount remaining of the moneys received for full-day kindergarten programs through supplemental kindergarten enrollment pursuant to section 22-54-103 (7)(d). The department of education shall adopt procedures for the implementation of this paragraph (b). The department of education shall transmit to the state treasurer the moneys received pursuant to this paragraph (b), and the state treasurer shall credit said moneys to the state education fund created pursuant to section 17 (4) of article IX of the state constitution.

(c) For the 2009-10 budget year, a school district that does not report any full-day kindergarten pupils in the district's pupil enrollment count as of the pupil enrollment count day may use the moneys received for full-day kindergarten programs through supplemental kindergarten enrollment pursuant to section 22-54-103 (7)(d) for planning and facility preparation necessary for the district to offer a full-day kindergarten program in subsequent budget years.

(2) The financial policies and procedures advisory committee created in the department of education shall establish by rule, tracking requirements deemed necessary by the committee for the moneys that a district receives through supplemental kindergarten enrollment pursuant to section 22-54-103 (7)(d) and hold-harmless full-day kindergarten funding pursuant to section 22-54-130 to provide full-day kindergarten programs and, if applicable, through the Colorado preschool program pursuant to article 28 of this title to provide preschool programs.