(1) An LEA governing board may approve a grant of up to $5,000 per opportunity class for the school year if: (a) a request for an innovation grant is included in the innovation application; and (b) the LEA governing board determines that the grant is needed to: (i) cover innovation program costs; and (ii) help fulfill the goals and purposes of the opportunity class. (2) If an LEA governing board approves a request for an innovation grant, the LEA governing board shall send the state board written notice of the approval and the name of the teacher who submitted the request for the innovation grant. (3) (a) (i) Upon receipt of the written notice and authorization under Subsection (2), the state board shall, subject to Subsection (3)(b), disburse the amount of the approved innovation grant to the LEA governing board. (ii) The LEA governing board shall distribute the money to the teacher of the opportunity class to cover innovation program costs. (b) (i) Except as provided in Subsection (3)(b)(iii), the maximum amount of money that the state board may distribute for approved innovation grants is $500,000 per school year. (ii) If the state board receives a written notice and authorization under Subsection (2) after already distributing $500,000 for the school year, the state board shall notify the LEA governing board that the grant money has been expended for the school year and that the state board cannot distribute money for the approved innovation grant. (iii) If the state board distributes less than $500,000 for approved innovation grants for a school year, the difference between $500,000 and the amount distributed shall be rolled over and included in the money available for distribution for approved innovation grants for the following school year. (4) The state board shall keep and account for all money appropriated for innovation grants separate from other state board funds. (5) A teacher receiving an innovation grant under this section may not use the money from the grant for any purpose other than for innovation program costs.
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