(1) There is created in the state treasury the state grants to publicly supported libraries fund, which fund is administered by the state librarian and which consists of all moneys that the state librarian collects for purposes of this part 4 from federal grants and other contributions, grants, gifts, bequests, and donations received from individuals, private organizations, or foundations. The state librarian shall transmit the collected moneys to the state treasurer to be credited to the fund.
(2) (a) All moneys in the fund are subject to annual appropriation by the general assembly. In addition to any moneys credited to the fund, the general assembly may annually appropriate moneys to the department of education for the purposes of this part 4. For any given fiscal year, the state librarian shall expend no more than two and one-half percent of the moneys appropriated for this part 4 for the administrative costs of the state librarian in administering this part 4. For any given fiscal year, if the administrative costs amount to less than two and one-half percent of the amount appropriated, the state librarian may distribute the difference between an amount equal to two and one-half percent of the amount appropriated and the amount of administrative costs actually incurred to the regional library service system to assist publicly supported libraries in meeting the eligibility criteria under this part 4.
(b) Repealed.
(3) Notwithstanding any provision of this section to the contrary, on March 5, 2003, the state treasurer shall transfer the balance of moneys in the state grants to publicly supported libraries fund to the general fund.
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