(1) (a) The fee for the examination and review of an application for any license, endorsement, or authorization, or any renewal or reinstatement thereof, shall be established by the state board of education and shall be nonrefundable. Upon determination of eligibility, such license, endorsement, or authorization shall be issued without an additional fee. The state board of education shall adjust if necessary all such fees annually so that they generate an amount of revenue that approximates the direct and indirect costs of the state board of education and of the department for the administration of this article; however, the state board of education shall establish and adjust such fees for licenses issued pursuant to section 22-60.5-201 (1)(a) so that the fees generate an amount of revenue that approximates the direct and indirect costs of the state board of education and the department for the administration of sections 22-60.5-201 (1)(a) and 22-60.5-205. All fees collected under this section shall be transmitted to the state treasurer and credited to the educator licensure cash fund, which fund is hereby created and referred to in this subsection (1) as the "cash fund". The general assembly shall make annual appropriations from the cash fund for expenditures of the state board of education and of the department incurred in the administration of this article. At the end of any fiscal year, all unexpended and unencumbered moneys in the cash fund shall remain therein and shall not be credited or transferred to the general fund or any other fund.

(b)

(I) Notwithstanding any provision of subsection (1)(a) of this section to the contrary, for the 2011-12 fiscal year through the 2020-21 fiscal year, the money in the cash fund is continuously appropriated to the department to offset the direct and indirect costs incurred by the state board of education and the department in administering this article 60.5. In each of the fiscal years, the general appropriation bill must, for informational purposes, reflect the estimated amount of expenditures, including any funding for personnel, from the cash fund.

(II) Notwithstanding section 24-1-136 (11), during each of the regular legislative sessions from 2012 through 2021, the department shall report to the education committees of the house of representatives and the senate, or any successor committees, and the joint budget committee of the general assembly concerning expenditures from the cash fund and the department's progress in meeting the goal of reducing to six weeks or less the processing time for issuing or renewing an educator license.

(III) For the 2011-12 fiscal year through the 2017-18 fiscal year, any persons hired to assist the department in reducing the processing time for issuing or renewing an educator license shall be independent contractors with the department, and the contracts for services shall not extend beyond June 30, 2018.

(IV) This subsection (1)(b) is repealed, effective July 1, 2021.

(2) Notwithstanding any provision of this section to the contrary, on March 5, 2003, the state treasurer shall deduct one hundred forty-threethousand five hundred thirty-five dollars from the educator licensure cash fund and transfer such sum to the general fund.