Section 387.1273 - Creation; use of interest and income; transfer of money to State General Fund; acceptance of gifts and grants; use of money in Account1. The Early Childhood Literacy and Readiness Account is hereby created in the State General Fund. The Account must be administered by the Department.2. The interest and income earned on: (a) The money in the Account, after deducting any applicable charge; and(b) Unexpended appropriations made to the Account from the State General Fund, must be credited to the Account.
3. Except as otherwise provided in subsection 4, the balance remaining in the Account that has not been committed for expenditure on or before June 30 of each fiscal year reverts to the State General Fund.4. The Department may accept gifts and grants of money from any source for deposit in the Account. All money received pursuant to this subsection: (a) Must be accounted for separately in the Account;(b) Must be expended in accordance with the terms of the gift or grant; and(c) Does not revert to the State General Fund and must be carried over into the next fiscal year.5. The money in the Account may only be used to award grants to school districts, sponsors of charter schools and nonprofit organizations to support early childhood literacy and readiness programs pursuant to NRS 387.1275.Added to NRS by 2023, 2169Added by 2023, Ch. 387,§12, eff. 7/1/2023.