Title 17. Education
Chapter 24. Board of Regents
Part I. General Provisions
17:3138.3 Science, Technology, Engineering, and Math (STEM) Upgrade Fund
A. There is hereby established as a special fund in the state treasury the Science, Technology, Engineering, and Math (STEM) Upgrade Fund, hereafter referred to as “the fund”. Subject to appropriation of monies into the fund by the legislature, the state treasurer is directed to deposit into the fund at the beginning of each fiscal year an amount equal to at least five percent of the amount of monies deposited into the Workforce and Innovation for a Stronger Economy Fund. Monies in the fund shall be invested in the same manner as monies in the state general fund. Interest earned on investment of monies in the fund shall be credited to the fund. Unexpended and unencumbered monies in the fund at the end of the fiscal year shall remain in the fund.
B. Monies in the fund shall be appropriated to the Board of Regents and allocated as follows:
(1) One million dollars for STEM upgrades at Southern University and Agricultural and Mechanical College.
(2) One million dollars for STEM upgrades at Grambling State University.
Added by Acts 2014, No. 646, § 2, eff. June 12, 2014.