(1) There is hereby created the teacher development grant program to provide moneys to schools for use in providing a teacher development schedule. A teacher development schedule may include only research-based activities that have been proven effective in improving teachers' skills, especially in teaching reading, writing, mathematics, and science.

(2) (a) On or before October 1, 2000, and on or before each October 1 thereafter, subject to available appropriations, the state board shall award teacher development grants to schools selected from those submitting applications pursuant to section 22-7-705. Each grant shall continue for two school years, unless discontinued pursuant to paragraph (b) of this subsection (2). No two-year grant shall exceed twenty thousand dollars. On expiration of a grant, a school may reapply for a grant by submitting an application pursuant to section 22-7-705.

(b) The state board shall annually review each grant recipient's use of the moneys awarded pursuant to this section. Based on the recommendations of the department made pursuant to section 22-7-706 (4), the state board shall discontinue the grant awarded to any recipient that is not making adequate progress in achieving the goals identified in the recipient's grant application.

(c) Moneys received by a school pursuant to the grant program shall be in addition to the moneys budgeted to the school by the school district in which the school is located and shall not reduce the amount of said budgeted moneys that the school would have received if it had not received a grant pursuant to this part 7. Grants awarded through the program shall be paid from moneys in the teacher development fund created in section 22-7-708.

(3) The state board shall implement the grant program in accordance with the provisions of this part 7. Pursuant to article 4 of title 24, C.R.S., the state board shall promulgate such rules as are required in this part 7 and such additional rules as may be necessary for the implementation of the grant program. Participation by a school in the grant program is voluntary.

(4) The department shall solicit and is hereby authorized to receive such public and private gifts, grants, and donations as may be available to fund the grant program. Any moneys so received shall be credited to the teacher development fund created in section 22-7-708.