funds. (1) There is created in the General Fund a restricted account known as the "School Readiness Restricted Account." (2) The School Readiness Restricted Account consists of: (a) money appropriated by the Legislature; (b) all income and interest derived from the deposit and investment of money in the account; (c) federal grants; and (d) private donations. (3) Subject to legislative appropriations, money in the restricted account may be used: (a) to award a grant under Section 35A-15-301 or 35A-15-302; (b) to contract with an evaluator; (c) to fund the participation of eligible students in a high quality school readiness program through a results-based contract; and (d) for administration costs and to monitor the programs described in this part. (4) Money for awards under Subsection (3)(a) shall be allocated in the following order to: (a) pay results-based contracts; (b) grant awards under Section 35A-15-302; and (c) if any allocated funds remain, grant awards under Section 35A-15-301.
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