There is established in the office of the state treasurer a fund to be known as the robotics education fund which shall be kept distinct and separate from all other funds. The unobligated balance of the fund shall be capped at $1,000,000, and any excess funds shall lapse to the general fund at the end of each biennium. The fund shall be administered by the commissioner of the department of education. The commissioner may accept and expend funds from any public or private source, including private gifts, grants, and donations.
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