There is hereby created the school bus safety fund in the state treasury which shall be administered by the state board of education. All expenditures from the school bus safety fund shall be for the purpose of regulating the design and operation of school buses. All expenditures from the school bus safety fund shall be made in accordance with appropriation acts upon warrants of the director of accounts and reports issued pursuant to vouchers approved by the state board of education or by the board's designee.
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