Nevada § 396.9645 - Nevada Promise Scholarship Account: Creation; administration; gifts and grants; uses of money in Account

§ 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. 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.