A. There is hereby created in the State Treasury a revolving fund for the State Board of Education to be designated the "Cameras for School Bus Stops Revolving Fund". The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of all monies received by the State Board of Education from fines collected from school bus stop violations pursuant to Section 11-705 of Title 47 of the Oklahoma Statutes, any state-appropriated funds, federal funds, donations, grants, contributions, and gifts from any public or private source. All monies accruing to the credit of the fund are hereby appropriated and may be budgeted and expended by the State Board of Education for the purposes of providing grants to public school districts as provided for in subsection B of this section. Expenditures from the fund shall be made upon warrants issued by the State Treasurer against claims filed as prescribed by law with the Director of the Office of Management and Enterprise Services for approval and payment. B. Contingent upon the amount of funds available in the Cameras for School Bus Stops Revolving Fund, the State Board of Education shall award one or more grants annually to public school districts in the state. The grants shall be used by the districts for installation of camera equipment on buses to aid in identifying drivers violating the provisions of Section 11-705 of Title 47 of the Oklahoma Statutes. The Board shall determine the criteria for and establish a process for the submission of grant applications. The applications shall be considered on a statewide competitive basis. The Board shall promulgate rules for the implementation of the grants issued pursuant to this section.
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