(1) (a) The school access for emergency response grant program cash fund is hereby created in the state treasury. The fund consists of money transferred to the fund pursuant to subsection (1)(b) of this section and any other money that the general assembly may appropriate to the fund.
(b) On July 1, 2018, and each July 1 thereafter through July 1, 2023, the state treasurer shall transfer five million dollars to the fund from the state public school fund created in section 22-54-114.
(2) The state treasurer shall credit all interest and income derived from the deposit and investment of money in the fund to the fund.
(3) Subject to annual appropriation by the general assembly, the department may expend money from the fund for the purpose of awarding grants to schools or public safety communications network owners pursuant to this part 21. The department may use up to three percent of the money annually appropriated for the grant program to pay the direct and indirect costs that it incurs to administer the grant program.
(4) The state treasurer shall transfer all unexpended and unencumbered money in the fund to the general fund after the grant program repeals pursuant to section 24-33.5-2108.
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