(1) There is created the Educator Preparation Improvement Fund, separate and distinct from the General Fund. Interest earned on moneys in the Educator Preparation Improvement Fund shall be credited to the fund.

(2) The Teacher Standards and Practices Commission may accept from any source any grant, donation or gift of money or other valuable thing made to the commission for purposes of the Educator Preparation Improvement Fund.

(3) Moneys credited to the Educator Preparation Improvement Fund are continuously appropriated to the commission for the purposes set forth in subsection (4) of this section. The commission may draw checks or orders upon the State Treasurer in making disbursements from the Educator Preparation Improvement Fund for the purposes set forth in subsection (4) of this section.

(4) The purpose of the Educator Preparation Improvement Fund is to encourage approved educator preparation programs and school district partnerships that:

(a) Respond to changes in education of students in preprimary programs and grades 1 through 12;

(b) Encourage collaboration around delivery models that provide effective professional preparation;

(c) Recognize the needs of the education workforce in this state, including but not limited to recruiting underrepresented persons, teachers and administrators to work in high needs areas such as special education, mathematics, science and teaching English to speakers of other languages;

(d) Encourage collaborative initiatives that improve student success and postsecondary access and achievement; and

(e) Respond to the need for national accreditation of approved educator preparation programs in this state. [2011 c.609 § 2; 2015 c.245 § 36; 2015 c.647 § 31]