Nevada Revised Statutes 396.9645 – Nevada Promise Scholarship Account: Creation; administration; gifts and grants; uses of money in Account
1. The Nevada Promise Scholarship Account is hereby created in the State General Fund. The Account must be administered by the State Treasurer.
Terms Used In Nevada Revised Statutes 396.9645
- Board of Regents: means the Board of Regents of the University of Nevada. See Nevada Revised Statutes 396.005
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
2. The interest and income earned on:
(a) The money in the Account, after deducting any applicable charges; and
(b) Unexpended appropriations made to the Account from the State General Fund, must be credited to the Account.
3. Any money remaining in the Account at the end of a fiscal year, including, without limitation, any unexpended appropriations made to the Account from the State General Fund, does not revert to the State General Fund, and the balance in the Account must be carried forward to the next fiscal year.
4. The State Treasurer may accept gifts and grants of money from any source for deposit in the Account.
5. The money in the Account may only be used to distribute money to the Board of Regents for the purpose of awarding Nevada Promise Scholarships to students who are eligible to receive such scholarships under the provisions of NRS 396.9665 or for any other purpose authorized by the Legislature.