Sec. 1. (a) The innovation network school grant fund is established to provide grants to an innovation network school, including a participating innovation network charter school. (b) The fund shall be administered by the state board. (c) The fund consists of the following: (1) Appropriations made by the general assembly. (2) Gifts, grants, or donations. (3) Interest accruing from investment of money in the fund. (d) The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public funds may be invested. (e) Interest that accrues from investments of the fund shall be deposited in the fund.
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