§ 28B.116.070. State matching funds--Transfer of funds from trust fund to endowment fund
(1) The higher education coordinating board may deposit twenty-five thousand dollars of state matching funds into the foster care scholarship endowment fund when the board can match state funds with an equal amount of private cash donations.
(2) After the initial match of twenty-five thousand dollars, state matching funds from the foster care endowed scholarship trust fund shall be released to the foster care scholarship endowment fund semiannually so long as there are funds available in the foster care endowed scholarship trust fund.
[2005 c 215 § 8.]
Sections: Previous 28B.116.005 28B.116.010 28B.116.020 28B.116.030 28B.116.040 28B.116.050 28B.116.060 28B.116.070Last modified: April 7, 2009