A. A community college district with a full-time equivalent student enrollment pursuant to Section 15-1466.01 of more than fifty thousand students shall establish a community college district collegiate special plate fund consisting of monies received pursuant to section 28-2412. The district shall administer the fund. All monies in the fund shall be used only for academic scholarships.

Terms Used In Arizona Laws 15-1447

  • Community college: means an educational institution that is operated by a district board and that provides a program of not more than four years' training in the arts, sciences and humanities beyond the twelfth grade of the public or private high school course of study or vocational education, including terminal courses of a technical and vocational nature and basic adult education courses. See Arizona Laws 15-1401
  • District: means a community college district that is established pursuant to sections 15-1402 and 15-1403 or Section 15-1402. See Arizona Laws 15-1401
  • enrollment: means that a pupil is currently registered in the school district. See Arizona Laws 15-901
  • Full-time equivalent student: means student enrollment for fifteen community college semester credit units per semester. See Arizona Laws 15-1401

B. The fund established in this section is exempt from section 35-190 relating to lapsing of appropriations. At the direction of the community college district the state treasurer may invest and divest inactive monies in the fund as provided by section 35-313. The state treasurer shall credit all interest earned on the fund monies to the fund.