1. The Account for Programs for Innovation and the Prevention of Remediation is hereby created in the State General Fund, to be administered by the Superintendent of Public Instruction. The Superintendent of Public Instruction may accept gifts and grants of money from any source for deposit in the Account. Any money from gifts and grants may be expended in accordance with the terms and conditions of the gift or grant, or in accordance with subsection 2. The interest and income earned on the sum of:
(a) The money in the Account; and
(b) Unexpended appropriations made to the Account from the State General Fund,
must be credited to the Account. Any money remaining in the Account at the end of a fiscal year does not revert to the State General Fund, and the balance in the Account must be carried forward to the next fiscal year.
2. The money in the Account may only be used for public schools and public education or for any other purpose, as authorized by the Legislature.
(Added to NRS by 2005, 1975; A 2007, 1565, 2379; 2013, 2636; 2015, 2207; R 2019, 4253, effective July 1, 2021) — (Substituted in revision for NRS 387.031)
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