Virginia Code 22.1-175.7: Virginia Public School Educational Technology Trust Fund created
A. From such funds as may be appropriated for this purpose and from such gifts, donations, grants, bequests, and other funds as may be received on its behalf, there is hereby created in the Department of the Treasury a special nonreverting fund known as the Virginia Public School Educational Technology Trust Fund, hereinafter referred to as “the Fund.” The Fund shall be established on the books of the Comptroller, and any moneys remaining in such Fund at the end of the biennium shall not revert to the general fund but shall remain in the Fund. Interest earned on such funds shall remain in the Fund and be credited to it. Funds may be disbursed to any school division that is eligible for financial assistance pursuant to the provisions of this chapter.
Terms Used In Virginia Code 22.1-175.7
- Department: means the Department of Education. See Virginia Code 22.1-1
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Locality: means a county, city, or town as the context may require. See Virginia Code 1-221
- State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245
- Superintendent: means the Superintendent of Public Instruction. See Virginia Code 22.1-1
B. The State Treasurer shall manage the Virginia Public School Educational Technology Trust Fund, subject to the authority of the Board of Education to provide for its disbursement. The Fund shall be disbursed to award grants as provided in § 22.1-175.6.
C. The amount of such educational technology grants shall be matched by funds of the qualifying school division based on the locality‘s composite index of ability to pay. In awarding such grants, the Board shall take into consideration any other state or federal grants which may have been applied for or awarded for the same projects. In addition, the Board shall assist local school divisions in applying for such grants and shall seek to ensure that all divisions have equitable access, based on superintendent‘s regions, to such funds as may be available.
1999, c. 870.