(1) The teacher residency expansion program fundis hereby created in the state treasury. The fund consists of money that the general assembly may appropriate or transfer to the fund. The state treasurer shall credit all interest and income derived from the deposit and investment of money in the fund to the fund.
(2) Money in the fund is continuously appropriated to the department for use in implementing the program.
(3) The state treasurer shall transfer all unexpended and unencumbered money in the fund on July 1, 2023, to the general fund.
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